Mexican President Andres Manuel Lopez Obrador to host Joe Biden and Prime Minister Justin Trudeau for talks in Mexico City
North American leaders aim to give new impetus to strengthening economic ties at a meeting this week, even as a major dispute grinds on over Mexico’s energy policies which has distracted from cooperation on other issues like immigration.
Still, Mexico remains mired in an energy dispute with the United States and Canada, who argue their firms have been disadvantaged by Lopez Obrador’s campaign to give control of the market to his cash-strapped state energy companies. Trudeau told Reuters on Friday he would make the case that resolving the energy dispute would help bring more foreign investment to Mexico, and was confident of making progress.Aindriu Colgan, director of tax and trade policy at the American Petroleum Institute - whose members include ExxonMobil and Chevron - said it was time to call a dispute panel because “Mexico is blatantly violating the USMCA.
Since the COVID-19 pandemic scrambled supply chains, policymakers have stepped up calls for firms to relocate business from Asia to make the region’s economy more resilient. Ovidio Guzman, son of jailed kingpin Joaquin “El Chapo” Guzman, is a leader of the Sinaloa Cartel, a gang blamed for helping to fuel a surge in fatal overdoses of synthetic opioid fentanyl in the United States.
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