Agreements established in international treaties like T-MEC could be at risk with the elimination of autonomous bodies.
In 2026, the Mexico-United States-Canada Agreement (T-MEC) will be reviewed, and with less than two years until this occurs, the International Chamber of Commerce (ICC) global and its Mexico chapter expressed that the proposed reform to eliminate autonomous bodies could complicate not only the T-MEC review but also other international agreements.
In a statement dated August 28, 2024, the ICC expressed its concern that the reform "could trigger profound and far-reaching consequences for the country's economic stability, as well as for its democratic structure and governance," since the disappearance of these bodies would create "legal uncertainty."
According to ICC global and ICC Mexico, autonomous bodies were created to ensure "independence in decision-making in strategic areas such as economic competition, transparency, and the protection of rights," which they added has allowed "the construction of a balanced democratic system and a competitive and fair economic environment."
However, their elimination would pose risks to the national economy, as it would generate distrust among investors, leading to lower foreign direct investment, especially due to uncertainty regarding how the functions of these bodies will be assigned and the fulfillment of international commitments such as T-MEC.
Impact of the Elimination of Autonomous Bodies
The ICC commented that the elimination of autonomous bodies "could weaken Mexico's position on the global stage," as it might be perceived as a politicization of market regulation that could undermine fair competition, leading to increased prices and decreased quality of goods and services, which would disincentivize investment and job creation.
Furthermore, the International Chamber of Commerce asserted that this "would favor monopolistic practices and raise costs for consumers," complicating compliance with commitments established in T-MEC and other international treaties. Additionally, "the risks of inefficiency and corruption would increase."
Moreover, the elimination of autonomous bodies would undermine the culture of transparency and trust in institutions, making citizens' privacy vulnerable, which would leave them "exposed to potential abuses, such as the misuse of their data," resulting in "deficient public policies."
For these reasons, ICC global and ICC Mexico called on legislators to reconsider the elimination of autonomous bodies and instead leverage nearshoring to promote "economic competition, telecommunications, and transparency as fundamental instruments to prevent the concentration of power."
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