US asks Sheinbaum to respect foreign investment in PJF reform

Mexico City (apro) – The US government has called on Mexico’s judicial sector to reform and respect foreign investments as stipulated by the T-MEC.

Brian Nichols, the US State Department’s director of Latin American affairs, expressed his respect for the scientific training of virtual president-elect Claudia Sheinbaum during an appearance before the US Congress.

The official was being questioned at a hearing of the House of Representatives Foreign Affairs Committee on a judicial reform proposal put forward by President Andres Manuel Lopez Obrador that would have allowed for the election of ministers, magistrates and judges through balloting.

The move, which is likely to be approved in September, has raised concerns in the market as the changes could lead to legal uncertainty that could dampen investment.

Nichols insisted that Mexico is a sovereign nation that can reform its laws if it considers doing so, but stressed: “Judicial transparency is critical for all investors, especially those from the United States and Canada, which are partners in T-MEC.

“We will continue to insist that all signatories to the T-MEC respect the foreign investment protection provisions contained in the agreement, regardless of Mexico’s future legal regime,” Nichols said.

On nearshoring, he stressed Sheinbaum’s training as a scientist and expressed his confidence that she would be convinced of the topic once she could prove its importance with facts.

? ? U.S.A. expressed respect for Claudia Sheinbaum and her training as a scientist.
??Brian Nichols (@WHAAsstSecty) questioned the judicial reform and its possible impact on the company.
1. Emphasize Mexico’s sovereignty and the decision-making power of its judicial system.
2.… pic.twitter.com/1n74u6OzKN
— Jesus García ?? (@jesusgarcía) June 12, 2024