USMCA – The Arbitration Brief

NAFTA’s Ghost and USMCA’s Gamble: What the 2026 Review Means for Investors in Mexico

By Caroline Ennis I. NAFTA’s Chapter 11 in Context When the U.S. and Canada entered a free trade agreement (“FTA”) in 1989, concerns emerged over the U.S. solidifying power over Canada. The primary concern was that a “hub and spoke” model, featuring the U.S. as the hub under separate bilateral agreements with Canada and Mexico,…

Expected Changes to ISDS Mechanisms under the USMCA

Upon its ratification by all parties, the new United States-Mexico-Canada Agreement (USMCA) will make substantial changes to the former North American Fair Trade Agreement’s (NAFTA) investor-state dispute settlement (ISDS) mechanisms found under Chapter 11. US-Canadian investments will experience the most dramatic changes due to the complete elimination of Chapter 11 ISDS mechanisms. There are big…