A trade deal with Mexico could make it easier for European producers to export to Mexico and phase out tariffs of up to more than €100 million a year. On 28 April 2020, Mexico and the European Union concluded negotiations on the modernisation of the trade pillar of the agreement. This was the last outstanding element of their new trade agreement. The agreement prohibits both sides from promoting trade and investment excessively: no EU trade agreement obliges governments to privatise or deregulate public services at national or local level. The EU-Mexico agreement is no different. An international investment tribunal would replace the current selection of private arbitration agreements contained in thousands of bilateral trade agreements around the world.
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