By Reuters Staff
2 Min Read
WASHINGTON (Reuters) - The U.S. Chamber of Commerce on Friday slammed an electricity bill proposed by Mexico’s president as “deeply troubling,” saying it represented a breach of the country’s commitments under the United States-Mexico-Canada Agreement (USMCA).
The planned legislation will undermine foreign investor confidence as Mexico emerges from its worst economic contraction since the Great Depression, Chamber Senior Vice President of the Americas Neil Herrington said in a statement.
“Such drastic changes would open the door for the reinstatement of a monopoly in the electricity sector and, we believe, would directly contravene Mexico’s commitments under the U.S.-Mexico-Canada Agreement,” he said.