“What’s in a name?”: NAFTA to USMCA and what this change means for Home investment protection Editorial Insight When arbitration is not North America and beyond? Is USMCA voluntary: the case of Mutu and Pechstein v. Switzerland simply a rose by any other name, or is it something more? Global Briefing The impact of The Belt and Key aspects of USMCA Road Initiative on investment arbitration USMCA is an agreement governing “What’s in a name?”: NAFTA Almudena Azcárate Ortega Javier Rodríguez Martínez approximately USD 1.2 trillion worth of to USMCA and what this trade and affects nearly half a billion change means for investment International Arbitration Head, Mexico City Office North American consumers. It will have protection to be ratified by all three countries according to the following rules: In Focus Cultural Heritage he beginning of the Trump More than a year later, on 30 September, Considerations in • Mexico: the agreement will be International Investment T presidency, in January 2017, after a gruelling negotiation process, sent by the executive authorities Arbitration brought with it multiple the United States, Mexico, and Canada to the Senate for discussion and Smart Contracts and changes relating to United reached an agreement to revise NAFTA, approval. If the agreement is passed International Arbitration: States trade policies, which which has been renamed the United by the Senate, the President will Friends or Foes? manifested in the country’s keenness to States-Mexico-Canada Agreement proceed with the publication of the The Achmea decision: renegotiate several trade agreements. (“USMCA”). USMCA was signed in corresponding decree in the Official significant uncertainties linger Buenos Aires on 30 November 2018. Chief among these is the North American Investment Arbitration: Free Trade Agreement (“NAFTA”). In This new trade deal has been hailed as a Contact Lawyers early 2017, U.S. authorities stated that thetemplate for future deals that will lead to What does USMCA mean for investor country would withdraw from NAFTA higher wages for Americans, improved protection in North America and if Mexico and Canada were not willing workers’ rights, and better protection for to renegotiate the treaty. Both countriesintellectual property. But how is USMCA beyond? Is USMCA simply a rose by any agreed to return to the negotiating different to the agreement that President other name, or is it something more? table and, on 18 May 2017, the U.S. Trump called “the single worst trade administration formally notified Congressdeal” the U.S. ever reached? What does of its intention to renegotiate. USMCA mean for investor protection in www.uria.com 10