Margarita R. Sánchez Discusses the USMCA Consultations and Their Impact on U.S. Investors in the Energy Sector in Mexico's Revista Proceso
"Doble Desgaste en La Búsqueda de un Acuerdo en Elt-Mec"
Margarita Sánchez, Practice Lead of International Arbitration at Miller & Chevalier, discussed her views on Mexico’s measures in the energy sector and the impact of the United States-Mexico-Canada Agreement (USMCA) consultations to U.S. and foreign investors in Mexico with Revista Proceso. Sánchez noted the USMCA's inter-state process timeline and potential scenarios if the U.S. and Mexico do not reach an agreement, emphasizing the importance for foreign investors to closely follow the evolution of the consultation process, while considering the timing of their potential claims, since the USMCA offers less protections to foreign investors than North American Free Trade Agreement (NAFTA). "The deadline for submitting legacy claims under NAFTA is July 1, 2023, requiring a notice of intent submitted by April 1, 2023," Sánchez said.