Mexico, U.S. trade officials discuss energy, corn exports, environment
Reuters
Published Dec 01, 2022 09:13PM ET
Updated Dec 02, 2022 01:10PM ET
By Kanishka Singh
WASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai met Mexican Economy Minister Raquel Buenrostro and stressed the need to make progress in talks over Mexico's energy measures and its fisheries-related environmental laws, the USTR office said.
Tai also stressed the importance of avoiding any disruption in U.S. corn exports to Mexico, the USTR office said in a statement late on Thursday.
The United States and Mexico have been holding talks to resolve a dispute over energy policy. The USTR in July demanded dispute settlement talks on the grounds that Mexican President Andres Manuel Lopez Obrador's energy policies discriminated against U.S. companies and violated a North American trade pact.
At the heart of the U.S. complaint, which Canada joined, are hold-ups in granting permits, a Mexican electricity law that prioritizes state firms, and other rules that investors feel disadvantage them, industry sources said.
The USTR complaint argued Mexico's drive to tighten state control of the energy market was unfair to its companies and likely in breach of the United States-Mexico-Canada Agreement (USMCA).
Under that trade deal, if such a disagreement is not resolved in 75 days of consultations, a dispute panel can be requested to review claims. A panel could expose Mexico to the risk of punitive trade tariffs.
The Mexican economy ministry has invited Tai's team to hold third round of energy consultations in the coming days in Mexico City, according to a ministry statement published separately Thursday. Buenrostro proposed establishing working groups, which would meet during December and early January to discuss the different aspects of the energy consultations.
In October, Mexico's economy ministry said that dialogue had been "productive" with U.S. and Canadian counterparts, and that they wanted to keep talking to reach a "mutually satisfactory" solution.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.