LatinNews Daily - 17 May 2021

In brief: US companies file arbitration proceedings against Mexico

* Three US companies have filed arbitration proceedings against the Mexican federal government before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). The claim is reportedly over the recently approved changes to Mexico’s hydrocarbons law, which they believe violates the conditions of the US-Mexico-Canada Agreement (USMCA) on regional trade. The action filed by the three US firms, Finley Resources Inc., MWS Management Inc., and Prize Permanent Holdings, takes place ahead of the first meeting of the USMCA free trade commission.

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