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Canada, Mexico affected by US companies’ trade arbitration proceedings By Reuters

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Canada, Mexico affected by US companies’ trade arbitration proceedings By Reuters


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MEXICO CITY (Reuters) – Mexico has been hit by three sets of trade arbitration proceedings over the past few days, according to the International Center for Settlement of Investment Disputes (ICSID).

first royal silver (NYSE:) and Silver Bull Resources, both Canadian companies, as well as US food firm Arbor Confections have filed cases against Mexico, the ICSID said in brief statements issued between Thursday and Friday.

All actions implemented the North American Free Trade Agreement (NAFTA) and the United States–Mexico–Canada Agreement (USMCA), which replaced NAFTA. The statements did not specify what type of redress the companies were seeking.

In June, Silver Bull said it would soon file a request for arbitration against Mexico over a claim of at least $178 million over the Sierra Mojada project.

Arbor Confections’ claim relates to a lease contract for an industrial warehouse in the border city of Ciudad Juarez, arbitration journal CIAR Global said. The company could not be immediately reached for comment.

In 2021, First Majestic said it had begun arbitration proceedings against Mexico following a tax dispute. It was not clear whether the latest filing pertains to that issue. The company did not immediately respond to a request for comment.

The administration of President Andrés Manuel López Obrador has sought to tighten state control over natural resources and the energy market, sparking trade disputes with the United States and Canada over the energy sector and corn.

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