What is the outlook and most-likely timeline for advancing USMCA in the 116th Congress?
Few neighbors have such deep and wide-ranging ties as the United States and Mexico. Both countries are bound not only by geography, but also through economic, security and social connections. Despite these strong connections—or perhaps because of them—the bilateral relationship is subject to strong pressures coming from domestic politics in both countries.
November’s midterm elections altered the balance of power in Washington, and the new Democratic majority in the House of Representatives, which will mean new chairs on key committees, will play an important role in shaping US energy diplomacy and energy markets in the Western Hemisphere. At an event co-hosted by the Inter-American Dialogue and the Institute of the Americas, panelists discussed how the new Congress will approach key issues affecting energy within the context of Latin America’s evolving role in US trade and foreign policy.
In the annual meeting of the world’s largest economies, which starts on Friday in Argentina, it seemed that Latin America and its most pressing concerns – such as the crisis in Venezuela – would be the priorities. However, it is now clear that the current complex global dynamic will dominate.
At the end of the day, it was Mexico and Canada that won the hard-fought battle to preserve most of NAFTA, writes former Mexican president Ernesto Zedillo in The Washington Post.
How does USMCA, the new NAFTA deal, affect the energy sector? What are the biggest changes? Will it boost investment and cooperation?