Canada and Mexico are awaiting a decision on the dispute against the United States
2022.11.25 14:42
Canada and Mexico are awaiting a decision on the dispute against the United States
Budrigannews.com – According to Canada’s Minister of International Trade Mary Ng on Friday, a decision on a dispute involving the United States and Canada regarding the interpretation of regional trade rules in the auto industry needs to be made quickly.
This year, Canada and Mexico filed a complaint together with Mexico against the United States regarding how to apply content requirements for the automotive sector under the United States-Mexico-Canada (USMCA) free trade agreement, which took effect in 2020.
“I’m eagerly awaiting a decision.Ng told Reuters in Mexico City, where she was attending meetings of the Pacific Alliance trade group, “I understand it’s pretty imminent.”
In order to qualify for tax-free status, 75% of a vehicle’s components must originate in the region under USMCA, a deal drafted at the request of former U.S. President Donald Trump to replace NAFTA.
Mexico stated in August that dispute panel hearings were beginning, and Canada and Mexico favor a more flexible interpretation of the rules than Washington.Mexican officials have expressed confidence that their arguments will be accepted by the panel.
Ng would not elaborate on whether a decision would be made in 2022, but when asked how she anticipated the outcome, she stated:
“Canada has confidence in the following areas:This is how we perceive our negotiation process for the trade agreement.
During her visit, Ng also highlighted Canadian investors’ concerns regarding President Andres Manuel Lopez Obrador’s efforts to tighten state control over Mexico’s energy and mining sectors.
Under the USMCA, these disagreements have resulted in a separate energy dispute between Mexico and Ottawa, Washington, and Washington.
Ng claimed that she had informed Mexican officials that many of the impacted investors belonged to Canadian pension funds for groups like teachers.
According to her, “so it’s really important that those investments that have been made here in Mexico are respected in accordance with our trade obligations.”
The pastor likewise said she was confident that Canada would one year from now be made a partner individual from the Pacific Collusion, whose center individuals are Mexico, Colombia, Peru and Chile.
Ng stated this week that Canada and Ecuador had begun preliminary talks regarding a possible free trade agreement.She stated that talks were beginning from “a really good place,” even though it was too early to predict when a deal could be reached.
