It was already an open secret, the team of hardliners in the administration of Joe Biden led by U.S. Trade Representative Katherine Tai and some State Department officials, the U.S. government would deliver a serious blow to the table against Mexico regarding full compliance with the TMEC in this case in the energy sector. Well, the shot has come.
Both formally United States What Canada expressed their interest in going into consultation with the government of Mexico to examine the violation of clear rules which, in this case, affect Canadian and American energy interests.
How serious is this measure and what is the next step?
Yes, it is very serious. The Mexican government will hold consultations in the next 75 days and if they don’t reach an agreement they will go to a panel which Mexico would certainly not win and our neighbors could impose tariffs on our products which would be a excellent thing hard blow for the economy of our country given that 80% of our exports go to the North.
The Mexican government’s response has not been very serious, the president mocked in the morning playing Chico Che’s song “This fear” all alone, the economy secretary who is in charge of free trade agreements has not speak.
In Washington, the coup was already ready, but the White House waited so as not to derail the negotiations for AMLO to participate in the Summit of the Americas. By not showing up, we thought we would two weeks ago, but AMLO’s visit to Washington didn’t want to go off the rails, ultimately the diehards won out.
The decision of the United States and Canada to request this review opens a complicated and dangerous path for our country. The economic effects would be very serious if not resolved, not to mention the general impact on the business climate.
That’s all for today, thank you very much and see you next time.
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