Research On The Investor-state Dispute Settlement In United States-Mexico-Canada Agreement

The United States-Mexico-Canada Agreement is the latest practice of trade and investment agreement.Chapter 14 of the USMCA made a series of reform of NAFTA,especially for the investor-state investment dispute settlement.USMCA,the inheritance and improvement of NAFTA,is not only the latest version of U.S.trade and investment rules to North America,but also the attitude and propositions of the United States in the international trade dispute settlement rules.Thus,the USMCA’s position and advocacy will serve as a blueprint for future free trade agreements with other countries,especially developing ones.It reflects the current international concern about the traditional dispute settlement mechanism between investors and disputing states.It also reflects the United States,in the reform of ISDS,advocated to carry out a modest improvement in many aspects within the existing ISDS,to achieve the rebalancing of the investors and host countries.In today’s international trade under the background of the grim situation,how to protect ourselves in the international trade agreement negotiations,how to safeguard the legitimate rights and interests of Chinese investors overseas,and how to balance international investor protection and the right of host country,etc.,are the urgent problems that we must pay attention.Therefore,this paper is divided into five parts to study the provisions of investor-state investment dispute settlement in USMCA.The main contents are as follows:The first part is the basic theory of investor-state dispute settlement.First,on the basis of discussing the origin,establishment and development of investor-state investment dispute settlement mechanism,this paper puts forward a major problem in present dispute ISDS mechanism,which provides a mechanism background for the discussion in the following parts.Then,this paper introduces the formation and development of the dispute settlement mechanism between U.S investors and the host states.After that,this paper summarizes the evolution process of the United States in ISDS from the stage of strengthening investor protection to the stage of rebalancing between investors and the host country.The second part is the subject of investor-state dispute settlement in USMCA.This part firstly discusses the different applications of ISDS from country to country;Then this paperanalyzes the rule,called "poison pill",of non-market economy countries and its reasons.Finally,through the explanation of the classification of investors in the USMCA,the next part of this paper is followed.The third part is the claim to arbitration of investor-state dispute settlement in USMCA.This part discusses from two types of USMCA investors,discussing the scope of dispute settlement claims of general investors and the investors covering government contracts respectively,and then concluding that the USMCA has narrowed the scope of arbitrable matters to a greater extent.The fourth part is the procedure of investor-state dispute settlement in USMCA.It discusses the reactivation of the traditional principle of "exhaustion of local remedies" and its reasons.Then,it analyzes the transparency rules that have been emphasized in the international arbitration for a long time,including disclosure of information and procedures of international investment arbitration,amicus curiae and participation of non-disputing party.Finally,a comparative study was conducted to compare the USMCA’s attitude towards the appellate mechanism with Canada.The fifth part is the influence of investor-state dispute settlement in USMCA towards China and China’s countermeasures and Suggestions.This part focuses on China’s practice in the negotiation of international investment agreement.Firstly,it demonstrates China’s choice and position in ISDS reform.Then analyze the influence of USMCA on China from both positive and negative aspects.Finally,this paper discusses the reform route and corresponding measures of China’s ISDS in the future,in order to benefit the negotiation and conclusion of the ISDS clauses of China’s investment treaty.