The Sun Has Finally Set on NAFTA: Investor-State Arbitration Under the USMCA
On July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) took effect, replacing the 1994 North American Free Trade Agreement (NAFTA). The USMCA provides a three-year sunset period for investors to submit arbitration claims related to foreign investments established or acquired under NAFTA. Now that the practical deadline of April 1, 2023 has passed, investors can no longer access NAFTA's dispute resolution mechanism and must file investment claims under the USMCA regime. A new article by Hicks Johnson managing partner Andy Hicks and associate Fatima Aslam outlines key changes that investors should look out for.
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