A U.S. Senator, Katie Britt (R-Ala.), has confirmed that the Mexican military has now vacated a port owned by Alabama-based Vulcan Materials Company, following a nearly two-week standoff. According to reports, Mexican police and Naval personnel seized the property in March to facilitate a ship belonging to building materials company, CEMEX. Vulcan Materials and the Mexican government have been in arbitration since 2018 over alleged violations of the North American Free Trade Agreement (NAFTA). The dispute centres around allegations by Vulcan that various Mexican agencies have levied unfair taxes on the property and ignored their own courts’ warnings to stop the taxes and return the company’s money.
Mexico seizing American-owned port is not uncommon.
