The transition from what was once ‘NAFTA’ to what is now the ‘United States-Mexico-Canada Agreement’ (USMCA) brings many changes to the trade relationship between the three North American countries. Some industries will be affected more than others, with the energy sector undergoing some notable changes.
Latin American Advisor reports an increase in support for deepening cross-border ties in the energy sector and protections being added for oil and gas. Furthermore, the USMCA contains a new chapter on anti-corruption and a chapter on the environment.
“All parties—the United States, Mexico and Canada—can claim a win from the USMCA agreement when it comes to energy,” said Pedro Niembro, senior director at Monarch Global Strategies.
U.S. and Canadian investors can have more certainty in their energy investments in Mexico, and consumers from all three countries can expect enhanced supply and efficiency in the North American energy market, according to Latin American Advisor.
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