•DEFENSE: US Secretary of State, Mike Pompeo, defended Wednesday the investments of US companies in the Mexican energy sector after two powerful industry groups asked the Trump Administration to intervene against regulatory actions taken by the López Obrador government.
•INDUSTRY: In June, two powerful US energy lobbies -the American Petroleum Institute (API) and the American Fuel & Petrochemical Manufacturers (AFPM)- requested the Trump administration to look into discrimination against US companies in Mexico’s fuels markets and storage facilities.
•BENEFITS: “It’s in Mexico’s best interest to have American investment, the technology that is brought to develop Mexican energy resources to benefit the people of Mexico”, said Pompeo during a press briefing. “We want American companies to have the opportunity to invest down in Mexico”.
•TREATY: According to Pompeo, the Trump administration is hoping that the new US, Mexico and Canada trade agreement (USMCA) benefits investments in the entire region. US energy industry groups complained in June that the Mexican government’s actions are in violation of the USMCA.
