In the Headlines
July 1, 2024
Adjustments in Energy Anticipated in USMCA
Reforma
Energy attorney Carlos Ochoa was interviewed by Reforma about the anticipated adjustments in the energy sector within the United States-Mexico-Canada Agreement (USMCA). Mr. Ochoa highlighted that the energy issue was not widely addressed in the initial USMCA negotiations because of each nation's energy sovereignty. However, in the upcoming review of the agreement in 2026, the energy sector could gain greater relevance as a result of legal and regulatory changes in Mexico that have affected U.S. and Canadian companies.
"In the USMCA, the energy part was largely set aside, it was an issue that they did not want to include in the last negotiations because it remained a matter of respecting energy sovereignty, (...) really the energy issue is minimal, just a few paragraphs and that's it. The renegotiation will come, and we will see how much the United States and Canada are betting on the energy chapter; I do not know to what extent the Mexican government will be in a position to open up to inclusions," he said.
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"In the USMCA, the energy part was largely set aside, it was an issue that they did not want to include in the last negotiations because it remained a matter of respecting energy sovereignty, (...) really the energy issue is minimal, just a few paragraphs and that's it. The renegotiation will come, and we will see how much the United States and Canada are betting on the energy chapter; I do not know to what extent the Mexican government will be in a position to open up to inclusions," he said.
READ: Adjustments in Energy Anticipated in USMCA (Subscription required)