Perova Margarita
Investment Regulations in the United States – Mexico – Canada Agreement
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ISSN 0869-0499

DOI: 10.31857/S086904990015419-2

This article focuses on the special feature of investment regulations contained in the United States-Mexico-Canada Agreement (USMCA). This agreement aims to replace and modernize the North American Free Trade Agreement (NAFTA). The author analyzes U.S. administration’s approach to the development of this agreement, as well as the new elements in USMCAs’ investment regulations. US administration’s approach is based on the US trade deficit indicator, which is used to measure the agreements’ success or failure. This approach might be counterproductive. Trade imbalances are determined by underlying macroeconomic fundamentals. Mostly, the relationship between saving and investment within each country plays a big part. The biggest change from NAFTA is the curtailment of investor-state dispute settlement (ISDS). The US administration argued that without the recourse to ISDS provided to companies overseas, companies would be more inclined to invest in the United States. Thus US investors loose robust international law protection. This agreement introduces new elements in the regulation of investments in the financial services sector, while focusing on expanding customer service capabilities and efficiency gains, taking into account the impact of technological innovations. The most important provisions are the prohibition of local data storage requirements, data protection and confidentiality of personal information exchange, the use and location of computing facilities by financial institutions.


Keywords: the United States – Mexico – Canada Agreement | US Administration’s approach | trade deficit | investment regulations | investor-state dispute settlement |

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