Mexico’s trade relations with the United States and Canada in 2022 were marked by various trade disputes under the T-MEC.
The dispute that has caused the most controversy concerns Mexico’s energy policy, with both countries accusing it of preferential and even protectionist treatment in favor of the Federal Electricity Commission (CFE) and Petróleos Mexicanos (Pemex), which is detrimental to companies in both countries.
The United States and Canada have required a consultation period under the USMCA, before reaching the Dispute Settlement Committee.
The Minister of the Economy, Raquel Buenrostro, reports that the government of Mexico has presented its counterparts in those countries with two proposals to resolve the dispute. He expressed confidence that at the next North American Leaders Summit to be held in January 2023, “good news” would be released to give investors certainty.
The second trade conflict between Mexico and the United States is the interpretation of rules of origin in the automotive sector. The Mexican government requested the formation of a dispute settlement commission. The final verdict will be announced in the coming days and there is a high probability that it will be in favor of the country.
The third difference with the neighbor to the north is the federal government’s ban on importing genetically modified corn for human consumption from the United States, starting in 2024.
In the face of the US claims, Buenrostro made it clear that this ban will move from 2024 to 2025. While corn for feed and industrial use will continue to be allowed.