Already, Mexico’s progressive reforms have made it an ISDS target. First Majestic, a Canadian silver mining company has been threatening Mexico for the last few years, under NAFTA’s Chapter 11.
For Mexican workers, farmers, and the poor, the pandemic and the new treaty replacing NAFTA are a devastating one-two punch.
The European Union mulls protecting handicrafts in the same way as gourmet food amid a push from Latin American countries.
26 years of free trade, industrial paradise for transnational corporations and
environmental hell for the peoples.
The Philippines will pursue separate discussions with Mexico and the US for potential free trade agreements with each these two countries.
To qualify for tariff-free trade, makers of heavy vehicles must meet various requirements, including a 60% regional content threshold that will increase gradually and 70% regional inputs of steel and aluminum.
The measures would face legal challenges under Mexico’s commitments not just under the outgoing NAFTA but also its successor, the United States-Mexico-Canada Agreement, an industry source said.
While the world is busy dealing with the coronavirus health crisis, the European Union and Mexico concluded talks on a new trade pact, provoking strong reactions.
The EU and Mexico have agreed to eliminate customs duties on practically all goods, to enhance and facilitate digital trade, and have taken on new obligations on good regulatory practices.
European civil society organisations are deeply concerned about the renewal of the European Union-Mexico trade agreement.
The European Union and Mexico finalised a major upgrade to their free trade deal after the two sides agreed to grant reciprocal market access to each other’s tenders for public contracts.
The announcement came three days after the US government launched a campaign to get Mexico to reopen plants, suggesting the supply chain of the North American free trade zone could be permanently affected.
Lopez Obrador said the government was reviewing the matter in the context of the entry into force of the United States-Mexico-Canada Agreement, a trade deal due to replace the 1994 NAFTA.
The US pressed Mexico to reopen border assembly plants that are key to the US supply chain, as part of the North American free trade zone.
Maquiladoras which avoid most tariffs because their finished products are for export only, have boomed since the 1994 North American Free Trade Agreement.
Mexico’s government asked the United States and Canada to grant its automotive industry extra time to adapt its supply chains as the deadline for implementing a new North American trade deal approaches.
Date for the revised North American trade deal to kick in now up to Americans.
Yet even before the coronavirus outbreak began in the mainland Chinese city of Wuhan in December, seismic rumblings already were being felt in the field of global logistics.
Maquiladoras in Reynosa are responsible for producing hundreds of products used and sold in the United States, with the majority of their parts coming from China.
Canada and Mexico could help export US coal to Asia via USMCA to get around the blocking of shipments by West Coast states, US Energy Secretary said.