North America Free Trade Agreement
Canadian mining company First Majestic Silver Corp submitted a request for arbitration based on NAFTA, due to the tax debt and its differences with the Mexican government.
US trade representative nominee Katherine Tai has said implementing the new free trade agreement between the United States, Canada and Mexico will be a priority.
A Latin American social media industry group that includes Facebook and Twitter said a reform in Mexico would violate an international trade pact, in swift backlash to a draft bill that seeks to regulate social media platforms.
Alberta’s Premier said that the Canadian province, which has an equity in the now-canceled Keystone XL pipeline, may seek compensation under investor-protection provisions still in effect under NAFTA
The bill gives preference in electricity distribution to the state-run Comision Federal de Electricidad and seeks to eliminate its obligation to buy electricity through auctions.
President Joe Biden’s administration is setting up its trade policy to prioritize enforcement of existing commitments by the US’s partners over negotiating more deals to open new export markets.
ISDS tribunals have ordered governments to pay corporations more than $989 million in compensation after ISDS attacks launched just under U.S. agreements.
The owner of Keystone XL — TC Energy (previously TransCanada) — used NAFTA to launch a US$15 billion lawsuit in 2016 after President Barack Obama cancelled the project.
Alberta believes there was a “very solid” legal basis to seek damages under international free trade agreements if the pipeline is effectively killed, said Alberta Premier
The real winners of free trade are the wealthy in all of the trading countries—not the citizens, workers, or manufacturing.
Trade agreements can be as powerful as military force for achieving a country’s strategic objectives.
The plastics industry is using the promise of its future voluntary cooperation to postpone or bar more effective regulatory measures - relying on language in the USMCA to make its case.
American capital brought high rates of chronic disease to Mexico which has led to a surging COVID-19 death toll.
The AFL-CIO is planning to file labor complaints against Mexico this month under the new US-Mexico-Canada trade agreement’s labor enforcement mechanism, the US union’s president said.
The USMCA trade agreement under President Trump is negatively impacting local farmers, but economists said the agreement assures low priced produce in stores.
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 deal provides loopholes for oil, gas, and mining companies to operate across borders, and paves the way for US companies to export even more fracked natural gas across the border into Mexico.
The revamped trade pact between the United States, Canada and Mexico taking effect on Wednesday was meant to create a kind of fortress North America, boosting the region’s competitiveness - but cracks are already starting to show in the foundation.
The new North American trade agreement isn’t even in effect yet and the Trump administration is warning Canada and Mexico they might face legal actions under the pact.