Partner Dan González quoted by The Wall Street Journal on Mexico's Legislative Move to Eliminate Regulatory Agencies

Media mention | 06 December 2024

In a recent article in The Wall Street Journal, partner Daniel González shared his perspective on the Mexican Senate's approval of a constitutional overhaul that eliminates several autonomous regulatory agencies, transferring their functions to the executive branch. The changes are part of a broader effort led by former President López Obrador and current President Claudia Sheinbaum to centralize control under the executive, with the stated goal of saving money and aligning with the U.S.-Mexico-Canada Agreement. However, the reforms have sparked concerns among industry groups and foreign firms, who fear increased government control and diminished transparency.

In his conversation with Wall Street Journal reporter Anthony Harrup, Dan highlighted that the initial proposal to transfer all functions to the executive branch raised significant concerns. He pointed out that the revised approach, which includes granting "technical independence" to the new entities within the ministries, seems to be a more sensitive solution. This adjustment could help alleviate some of the investor concerns and ensure compliance with provisions of the USMCA.

The full article from The Wall Street Journal can be found here.