Publication Date: 04-08-2022
The request by the United States, followed by Canada, for consultations regarding Mexican laws, policies and practices related to its energy sector is a major test for the dispute settlement procedures of the United States-Mexico-Canada Agreement (USMCA). Though the U.S. and Canadian complaints are directed toward Mexico’s energy policies and treatment of private investors, the outcomes of the dispute will be crucial for the credibility of the agreement itself.
The USMCA governs the massive trade and investment relationship between the three countries, totaling more than $2.6 million in trade each minute. When the agreement turned two on July 1, U.S.-Mexico-Canada trade had surpassed pre-pandemic levels. It provided most of Mexico’s economic growth over the past two years.
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