So far in 2023 according to hard data indicates that Mexico is above Canada and China in terms of trade business it conducts with the United States, this is transported to amounts that reach $396.6 billion pesos as reported up to July of this year, but this does not seem to be an entirely comfortable scenario for the United States, as there are tensions regarding the way in which the government of President Andrés Manuel López Obrador is handling trade relations, since at the beginning of the year a dispute arose due to Mexico's disagreement regarding imports of transgenic corn, This dispute led the USTR (United States Trade Representative) to request a dispute settlement panel to the T-MEC, which concluded with a favorable result for the American government, so Mexico is currently buying around $5 billion pesos in transgenic corn from that country. However, the outlook in terms of assets is now even higher, as the United States is expressing its disagreement by declaring that Mexico is not complying with the agreements established in the TMEC, driven by oil and renewable energy companies such as Chevron and Marathon Petroleum, which have also complained, together with the disagreement of the Canadian government, who jointly stated that Mexico is exercising protectionist policies to favor state-owned companies (Petroleos Mexicanos and the Federal Electricity Commission), private companies from the aforementioned countries have mentioned that they were previously denied permits and simple requests that have prevented them from continuing with the expansion of their energy and oil market in Mexico, as a result of this, since the beginning of the year the United States and Canada have held talks to resolve these disputes, which has not concluded in a favorable outcome, so now the government of President Joe Biden has asked U.S. energy companies to prepare affidavits that clearly and objectively document how Mexico's energy policies have interrupted their investments; Therefore, the USTR is expected to intervene once again to seek a dispute settlement panel. If Mexico were to run the risk that the accusations being made against it could be supported by solid evidence confirming its convenient participation in such events, the panel could rule against Mexico, which would represent a possible retaliation in tariffs on Mexican products worth billions of dollars.
U.S. to intensify dispute with Mexico over energy regulation
