The new interpretative note on the investment chapter of the FTA seeks to avoid legal abuses and protect the sovereignty of both countries without affecting incentives for foreign investment.
A bipartisan group of US senators called on US Trade Representative to stop negotiations with Mexico, Canada and Colombia that they say would weaken investor protections in some US free trade deals during the Biden administration’s final days.
A group of 37 Democratic lawmakers urged the US Trade Representative’s office to press ahead with efforts to weaken investment protections in US trade agreements.
Panama has agreed to pay $26 million to settle a dispute with Dominion Mineral Corp. after losing an arbitration award in 2020 over the US mining company’s copper-gold exploration licences.
Colombia’s President said that Colombia will try to renegotiate the Free Trade Agreements with the European Union and the United States, concerning arbitration prerogatives based on national law.
The country will likely have to pay over $30 million to an American litigation firm because it wanted to protect its environment from harmful seabed mining.
Odyssey Marine Exploration, a deep-sea mining company based in Florida, sued Mexico after rejecting environmental permits for a phosphate mining project off the coast of the state of Baja California Sur.
The dream of Próspera, founded by a US corporation off the coast of Honduras, was to escape government control. The Honduran government wants it gone but Próspera filed an astronomical $10.775 billion lawsuit against the state.