La Jornada: The T-MEC would be reviewed before the end of the year

The American Society Mexico (Amsoc) anticipates that the T-MEC negotiations will conclude this year and that Mexico will have a significant role in guaranteeing Canada’s participation.

At a conference to announce the binational convention of the private sector organization on September 23, Larry Rubin, president of Amsoc, noted that “the negotiation between Mexico and the United States is going well,” but expressed concern about the conversations between Ottawa and Washington. “We hope that the government of Canada and Prime Minister (Mark) Carney will dedicate themselves to the full negotiation of the USMCA to bring the treaty to fruition by the end of this year,” he said.

He indicated that Amsoc trusts the Secretary of Economy, Marcelo Ebrard, but is awaiting Canada’s decision. Rubin stressed the importance of the three countries maintaining a unified stance in the negotiations and expressed optimism about the resolution of the tariffs imposed on Canada by the United States.

Rubin considered that the negotiations between Mexico and the United States have been positive and that “Mexico will play a very important role in ensuring that Canada finishes the negotiations that correspond to it and that a treaty can be signed as contemplated,” he said.

Regarding the Foreign Investment Law initiative sent by President Claudia Sheinbaum, Rubin pointed out that “Mexico is totally open” to foreign capital,” but any legal modification must send “very obvious signals that the rule of law for companies is a priority.” He added that foreign investment seeks to operate as efficiently and quickly as possible, so delays in authorizations or permits would be counterproductive.

This initiative, he stated, becomes relevant given the growing participation of Chinese capital in strategic sectors. “Having this dependence on a player like China is extremely worrying,” said the business leader and mentioned the negative impact that these investments have had on the national textile industry, where Chinese products “have created very serious problems for Mexican businessmen,” largely due to the subsidized prices that prevent them from competing.

Amsoc insisted that North America must protect its market and prioritize free enterprise and the competitiveness of the USMCA.