Executive Summary

The USMCA brings major changes to the United States-Mexico-Canada investment arbitration framework. The scope of this paper is to provide an overview of these changes and examine how the new framework is likely to affect investment disputes in the region. At a time of widespread criticism of ISDS, the USMCA shows the States' desire to reform ISDS, but not end it. Not even the most fundamental change from an ISDS point of view - the withdrawal of Canada - indicates a complete rejection of ISDS given that Canada has recently signed major investment agreements including ISDS. Most of the ...