The law prioritizes the use of electricity produced by state-owned electricity commission over that generated by private companies. Canada and the U.S. fear the law will hurt the Mexican business interests of its companies
Mexico’s Supreme Court is set to rule on an electricity law that Canada and the U.S. have lobbied against for disadvantaging their companies in possible violation of North America’s free-trade agreement.
Prime Minister Justin Trudeau made a last-ditch attempt to change Mr. Lopez Obrador’s mind in a call this week. “They discussed the important contributions Canadian investors make to the Mexican economy, including in the energy sector,” the Prime Minister’s Office said in a summary of the conversation.
Mr. Lopez Obrador this week dismissed U.S. arguments that the electricity law would violate the U.S.-Mexico-Canada Agreement, which governs continental trade. Foreign investment in the energy industry was further enshrined in the renegotiated NAFTA, now dubbed USMCA in the United States, which took effect in 2020.
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