Trade deal between Mexico, European Union creates stink for U.S. cheese makers

In Mexico, asiago cheese can no longer be labeled and sold as asiago unless it comes from the alpine region of northern Italy where the mild, nutty-flavored formaggio originated. The labeling restrictions are part of a new trade deal that Mexico signed in April with the European Union – one of several trade pacts that countries around the globe have been pursuing with each other, often with ramifications for U.S. companies.Other nations have been driven to form their own trade pacts in part, analysts say, because of the Trump administration’s focus on slapping tariffs on imports and updating a 25-year-old agreement with Canada and Mexico instead of negotiating new deals that would expand markets for U.S. goods.The European Union has been particularly aggressive – signing new deals with Mexico and Canada, finalizing another agreement with Japan and announcing plans to hold separate talks with Australia and China. But other countries also are pursuing deals of their own.“Most of these countries continue to view trade as beneficial to their economic growth, to job creation and to attract direct foreign investment,” said Wendy Cutler, a top official in the U.S. Trade Representative’s office under President Barack Obama.But many also “are trying to reduce their dependence on the United States now, viewing the U.S. as an unreliable trading partner,” she said.Trade deals that exclude the U.S. can still have costly consequences for U.S. companies. Hence, the asiago imbroglio.