Larry Rubin, president of the American Society of Mexico, assured that the review of the Mexico, United States and Mexico Treaty (USMCA) will not be such a simple task, since the judicial reform caused noise and nervousness among American investors.
“The constitutional reforms have generated a lot of noise in the United States and will also be an integral part of the conversations that will be held in the USMCA, so it will not be a simple review under either mandate,” he stated in the Election Night presentation. , an event that will analyze in real time the presidential elections in the United States on November 5.
He said that investors are nervous about the constitutional reforms promoted by the government of Andrés Manuel López Obrador and supported by that of Claudia Sheinbaum Pardo.
“The reforms in Mexico must be analyzed from the perspective of generating investment and job creation by companies that seek to invest in the Mexican economy,” commented the businessman.
Read: Mexico and Canada agree to ensure coordination with the US regarding the USMCA review
He asserted that there is a lot of interest from businessmen in the United States in constitutional reforms and modifications to autonomous bodies, which is why they will be part of the conversation in the review of the USMCA.
“I would not doubt at all that there are important changes, due to the legal uncertainty that the changes in the Mexican Constitution have generated,” declared the representative of 2 million Americans in Mexico.
“The reform clearly details a process where, for example, judges are popularly elected. “This raises a series of substantial doubts about who is going to finance the elections of the popular judges and that also leads to wondering if the decisions of these judges are going to be subject to whoever supported them for this vote,” he insisted.
He added that the changes generated by the energy counter-reform have an impact within the review of the TMEC, because the rules and the Constitution were drastically changed in Mexico, as well as due to temporary modifications.
He commented that American investors are waiting to see who will stay in the White House, because “many of the business decisions depend on the public policies that are going to be adopted by the Executive Branch of the United States.”
He expressed that Mexico will continue to be attractive, but the constitutional reforms raise unnecessary questions that were not asked regarding the independence of the Judiciary, autonomous organizations and the energy sector.
“The review of the USMCA will have a more in-depth discussion by the United States government and American businessmen,” said Larry Rubin.
“The next review, well, it will not be a review under the conditions of the beginning of this year and the conditions have changed radically. And this causes the review to be a renegotiation and we will know on November 6 if the review becomes a renegotiation,” he stated.
“The reality is that these reforms, well, for investment, were not positive. On the contrary, I think it is a setback for investment and well, we will have to work with this. It does not mean that investment will not arrive, investment will continue to flow, but perhaps it will not flow at the rate and growth that could flow if these reforms did not exist,” he stated.
The USMCA review is scheduled for 2026 and will be led by governments other than those that signed the initial agreement in 2020.
In the United States next Tuesday, former President Donald Trump will face off in the presidential elections as the Republican candidate against Vice President Kamala Harris on the Democratic side, while Canada will face general elections at the end of 2025.
With information from EFE
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