Mexico Open to Working With U.S., Canada on Energy Law Concerns

Mexican Economy Minister Tatiana Clouthier said her government is willing to work with the U.S. and Canada on their concerns over Mexico’s efforts to bolster its state electricity company at the expense of private firms.

In an interview with Bloomberg News, Clouthier said Mexico will maintain “an open dialogue” with its North American allies about the new law, which would favor the state utility over private renewables companies. The law has been suspended by local courts.

“Mexico is open to continue the discussion with its partners under USMCA with respect to any concern on the modification of Mexico’s domestic laws and regulations on the electricity and energy sector,” Clouthier said in an email interview, referring to the U.S.-Mexico-Canada Agreement

President Joe Biden’s trade chief criticized Mexico’s nationalist energy policies at a joint two-day meeting this week. Both Katherine Tai and her Canadian counterpart, Mary Ng, have raised concerns it would harm U.S. and Canadian investments in Mexico’s energy market.

Clouthier added that the government will also work “with investors, both national and foreign, to help us create long-lasting relations and win-win cooperation schemes for the benefit of development in Mexico.”

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