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☆ Exclusive: Canada seeks progress in dispute over Mexican energy policies at summit
▼ + stars: | 2023-01-06 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

OTTAWA, Jan 6 (Reuters) - Canada and the United States are going to argue at a North American leaders' summit next week that resolving a dispute over measures that favor Mexican energy companies would help draw more foreign investment to Mexico, Prime Minister Justin Trudeau said on Friday. Asked if he hoped to make progress at the summit in Mexico City, Trudeau said: "Absolutely". The United States and Canada entered into dispute settlement talks last year with Mexico under a North American trade deal, known as the USMCA, charging that Mexican energy policies were discriminatory and undermine international firms. Trudeau will arrive in Mexico City on Monday for a three-day visit, which will include bilateral meetings with both Biden and Lopez Obrador. The United States and Canada are challenging amendments to Mexican legislation that prioritize distribution of CFE-generated power over cleaner sources of energy provided by private-sector suppliers, such as wind and solar.

☆ Analysis: Is the party over? Mexico's peso could lose solid gains in 2023
▼ + stars: | 2022-12-29 | by ( Noe Torres | ) www.reuters.com time to read: +2 min

MEXICO CITY, Dec 29 (Reuters) - Mexico's peso, which is ending 2022 with one of its strongest performances in a decade, could have its gains wiped out in 2023 after an expected end to the Bank of Mexico's rate hikes cycle and a possible recession in top trade partner the United States. "The carry trade, the phenomenon that has benefited (the peso) this year, will likely dissipate a bit," said CI Banco analyst James Salazar. The carry trade refers to a trading strategy of taking advantage of yield differences between Mexico and other economies. Traders at the Chicago Mercantile Exchange, considered a bellwether of market sentiment, have started to bet the peso will begin depreciating. Reporting by Noe Torres; Writing by Anthony Esposito; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. expands dispute settlement consultations over Canadian dairy tariff policies
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Dec 20 (Reuters) - The Biden administration said on Tuesday it was requesting new dispute settlement consultations under the U.S.-Mexico-Canada Agreement (USMCA) trade deal related to Canadian dairy import tariff policies. The United States initiated dispute consultations over some Canadian dairy tariff-rate quotas in May, alleging Canada's allocations deny U.S. retailers access to its markets and undermine the agreement. Last year, the United States requested the creation of a panel under USMCA rules to resolve a dispute over Canadian dairy quotas after failing to settle the issue with Ottawa. The panel in a 50-page report in January said Canada violated the trilateral trade accord by reserving most of its preferential dairy tariff-rate quotas for Canadian processors. Canada has said that it amended its allocation policies for dairy quotas after the panel report.

☆ Costa Rica seeks entry to North America trade pact
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

SAN JOSE, Dec 14 (Reuters) - Costa Rica has told the United States it is interested in joining the North American trade pact between the United States, Mexico and Canada, President Rodrigo Chaves said on Wednesday. Dodd said he had spoken with Chaves about opportunities to boost economic ties, but made no comment on a possible entry for Costa Rica into the North American trade pact. "We are evaluating opportunities," said Tovar, adding membership in the trade pact would give Costa Rica an "immense advantage" and add another strategic link to global supply chains. The United States is Costa Rica's largest trading partner, according to the U.S. State Department, accounting for 38% of Costa Rica's imports and 42% of exports. The Central American country has 10 bilateral and five multilateral trade agreements in force.

☆ Trade panel sides with Mexico, Canada in auto rules dispute, Mexico says
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 9 (Reuters) - A dispute panel under a regional trade pact has sided with Mexico and Canada against the United States in a disagreement over regional content requirements for the auto sector, Mexico's presidency said on Friday in a tweet that was later deleted. "The decision could generate more incentives to generate auto parts in our country," the tweet said. Mexico's economy ministry told Reuters it would speak on the subject "once the resolution becomes official." Mexico is also in a trade dispute with the United States regarding its energy policies, which the United States calls nationalist and unfriendly to U.S. firms and a violation of the United States-Mexico-Canada Agreement (USMCA). Reporting by Kylie Madry and Adriana Barrera; Editing by Daina Beth Solomon and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. threatens legal steps over Mexico's planned GMO corn ban
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 28 (Reuters) - The United States on Monday threatened legal action against Mexico's plan to ban imports of genetically modified corn in 2024, saying it would cause huge economic losses and significantly impact bilateral trade. The countries are already in dispute resolution talks over Mexican energy policies, which the United States argues violates the U.S.-Mexico-Canada (USMCA) trade pact. The planned ban would halve Mexico's imports of yellow corn from the United States, a Mexican agriculture official told Reuters in October. Supporters of the plan say genetically modified seeds could contaminate Mexico's age-old native varieties. Vilsack said Lopez Obrador had reaffirmed the importance of yellow corn imports for Mexico's food security, and that he was expecting to soon receive a proposal from the president on a potential dialogue over the issue.

☆ Decision on North American auto rules dispute 'imminent', Canada says
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 25 (Reuters) - A decision should be made very soon on a dispute pitting Canada and Mexico against the United States on the interpretation of regional trade rules in the auto industry, Canada Minister of International Trade Mary Ng said on Friday. Canada this year joined Mexico in a complaint against the United States over how to apply automotive sector content requirements under the United States-Mexico-Canada (USMCA) free trade agreement, which came into effect in 2020. Mexico and Canada favor a more flexible interpretation of the rules than Washington, and Mexico said in August that dispute panel hearings were beginning. Those disagreements have led to a separate energy dispute under USMCA that pits Ottawa and Washington against Mexico. Ng this week said Canada had begun exploratory discussions with Ecuador over a potential free trade agreement.

☆ Mexico not buying U.S. yellow corn as GM ban looms, Lopez Obrador says
▼ + stars: | 2022-11-09 | by ( Marianna Parraga | ) www.reuters.com time to read: +3 min

The United States wanted to sell Mexico more yellow corn and Mexico declined, Lopez Obrador said in a regular news conference. "There is a market for it, but the government cannot make a purchase because we do not want GM," Lopez Obrador said, citing a lack of scientific investigation into its effects. Lopez Obrador did not specify who made the request to sell more corn, the amount of the requested sale or the time frame. Mexico is ready to halve its U.S. imports of yellow corn when the decree goes into effect and is considering direct agreements with farmers to secure non-GM yellow corn imports, the country's deputy agriculture minister said in October. Chicago Board of Trade corn futures fell on Wednesday after the news, with the benchmark December contract down 6 cents a bushel at a two-month low of $6.61-1/2 a bushel.

☆ Nearshoring represents 'a lifetime opportunity' to invest in Mexico, BofA says. How to play it
▼ + stars: | 2022-11-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +5 min

This has already led to a manufacturing surge in Mexico and represents "a lifetime opportunity" to invest in Latin America's second-largest economy, according to Bank of America. "Nearshoring represents Mexico's best growth opportunity for the next 10 years and it is already occurring," Bank of America's Capistran said. The EWW is up 1.9% in 2022, easily outperforming the S & P 500. All five of those stocks are outperforming the S & P 500 this year, with FirstCash jumping nearly 30% and Sanmina popping 38%. PriceSmart and Ingredion are down 6.4% and 8.2%, respectively, in 2022, but that's still better than the S & P 500's 19% drop for the year.

"There are many alternatives to importing non-GMO yellow corn from the United States," Suarez said in an interview on Wednesday. It was the strongest indication yet from Mexico's Agriculture Ministry that the ban will hit yellow corn destined for livestock feed. The 2020 decree by Mexico President Andres Manuel Lopez Obrador aims to phase out GM corn and the herbicide glyphosate by 2024. Yellow corn imports had become more expensive than domestic production, another incentive for farmers to make the switch, Suarez said. The government was working to make agreements with local corn growers to specifically increase yellow corn production to 6 million tonnes, he added.

☆ One factory worker takes on Mexico's powerful unions
▼ + stars: | 2022-10-27 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +9 min

CTM representatives say their unions defend worker rights, offer perks such as scholarships and sports programs and abide by Mexico's new labor rules. Along with La Liga, other new unions have also won victories over powerful rivals in the past year at GM, Japan's Panasonic (6752.T) and French glassmaker Saint-Gobain (SGOB.PA), pledging better pay. Even among the new crop, La Liga stands out for its broader vision: targeting companies no matter the sector, no matter the location. Leaving her three kids at home, she is traveling factory to factory seeking support. What's more, to drum up support, La Liga must fight a deeply embedded culture of fear and apathy around speaking out.

☆ Mexican union calls for U.S. probe into alleged labor abuses at Panasonic plant
▼ + stars: | 2022-04-18 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +4 min

"They were given a contract they didn't even know about," Moreno said of the Panasonic deal with rival union SIAMARM. The dispute at Panasonic grew out of a vote last year in which workers rejected their union contract. Labor authorities then scheduled a vote April 21-22 for workers to choose between two other unions vying to take over the contract - SNITIS and SIAMARM. However, SNITIS says Panasonic signed a contract with SIAMARM ahead of the April election and began to withhold union dues from worker paychecks. SIAMARM, part of one of Mexico's biggest labor groups, the Confederation of Mexican Workers (CTM), could not be reached for comment.

☆ Samsung ar putea construi în SUA o uzină de producere a bateriilor destinate automobilelor electrice
▼ + stars: | 2021-07-08 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Grupul sud-coreean Samsung SDI Co Ltd ar putea construi în SUA o uzină care produce baterii destinate automobilelor electrice, pentru a sprijini trecerea industriei la electrificare, relatează economica.net. Acestea au precizat că Samsung SDI nu a decis încă dacă va demara construcţia fabricii din SUA ca o societate mixtă cu producătorii auto sau va fi o unitate de producţie independentă. Samsung SDI are uzine care produc baterii pentru automobilele electrice în Coreea de Sud, China şi Ungaria, pentru clienţi ca BMW, Ford, Volvo şi Volkswagen. Rivalele Samsung SDI din Coreea de Sud, LG Energy Solution şi SK Innovation Co Ltd, au anunţat separat planuri de produce de baterii în SUA. În aprilie, Rivian informa că Samsung SDI va furniza baterii pentru vehiculele sale.

Organizations: coreean Samsung SDI, Samsung, Samsung Electronics Co, Ford, Samsung SDI, clienţii, BMW, Volvo, Volkswagen, Rivalele Samsung, LG Energy, SK Innovation Co Locations: coreean, SUA, Stellantis, Amazon, Statele Unite, Mexic, Canada, american, America de Nord, Coreea de Sud, China, Ungaria, Europa

☆ The world's largest trade deal could be signed in 2020 — and the US isn't in it
▼ + stars: | 2019-11-12 | by ( Yen Nee Lee | ) www.cnbc.com time to read: +5 min

Manan Vatsyayana | AFP | Getty ImagesAfter more than six years of negotiations, more than a dozen countries in Asia Pacific are now aiming to sign what would be the world's largest trade agreement in 2020. All 16 countries started negotiating RCEP in 2013, when talks for another major trade pact — the Trans-Pacific Partnership or TPP — were underway. Given China's absence in the then U.S.-led TPP, which was slated to be the world's largest trade deal, many observers considered RCEP a way for Beijing to counter American influence in the region. The final text with details of the trade agreement will go through legal reviews before being signed and released. Deborah Elms, executive director at consultancy Asian Trade Centre, told Reuters that would help Asian producers to sell more of their products to the rest of the region.

☆ Justin Trudeau Fast Facts
▼ + stars: | 2015-11-03 | by ( Cnn Editorial Research | ) edition.cnn.com time to read: +6 min

CNN —Here’s a look at the life of Canadian Prime Minister Justin Trudeau. While campaigning for prime minister, Trudeau endorsed the legalization of marijuana. TimelineApril 1972 - During a state visit with Prime Minister Pierre Trudeau, US President Richard Nixon makes a prediction: “Tonight, we’ll dispense with the formalities,” Nixon says. “I’d like to toast the future prime minister of Canada: to Justin Pierre Trudeau.”1998 - Trudeau’s brother, Michel Trudeau, is killed in an avalanche while skiing. The video shows Trudeau, British Prime Minister Boris Johnson, French President Emmanuel Macron, and Dutch Prime Minister Mark Rutte laughing.

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