<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><b class="">Politico Morning Trade</b><div class=""><br class=""></div><div class=""><span style="font-size: 16px; color: rgb(183, 0, 0); font-weight: bold; font-family: sans-serif;" class="">— <strong style="font-family: Helvetica, sans-serif;" class="">Canadian pipeline operator TC Energy is seeking $15 billion in damages from the U.S. over the abandoned Keystone XL oil pipeline,</strong></span><strong style="font-size: 16px; font-family: Helvetica, sans-serif;" class=""> </strong><span style="font-family: Georgia, serif; font-size: 16px; background-color: rgb(255, 255, 255);" class="">saying the Biden administration unfairly discriminated against the project in violation of the U.S.-Mexico-Canada free trade pact.</span></div><div class=""><font face="Georgia, serif" size="3" class=""><span style="background-color: rgb(255, 255, 255);" class=""><br class=""></span></font></div><div class=""><font face="Georgia, serif" size="3" class=""><span style="background-color: rgb(255, 255, 255);" class="">...<br class=""></span></font><div class=""><br class=""></div><div class=""><br class=""></div><div class=""><p style="margin-top: 0px; margin-bottom: 24px; font-family: Georgia, serif; font-size: 16px; line-height: 24px;" class=""><a href="https://go.politicoemail.com/?qs=ab92a9bd3a5008119b3140f7b99ab84f23e9723d72b206638f0f4d08eef2a11c2d9fd7b970a70d5018c80427acca01ea" target="_blank" class=""><strong style="font-family: Helvetica, sans-serif;" class="">CANADIAN PIPELINE CO SEEKS $15B FROM US OVER KEYSTONE</strong></a><strong style="font-family: Helvetica, sans-serif;" class="">: </strong>Canadian pipeline operator TC Energy is seeking $15 billion in damages from the Biden administration over the president’s decision to cancel its long-maligned Keystone XL pipeline project.</p><p style="margin-top: 0px; margin-bottom: 24px; font-family: Georgia, serif; font-size: 16px; line-height: 24px;" class="">TC Energy Friday announced it would file a “legacy” NAFTA claim under the updated U.S.-Mexico-Canada free trade agreement, arguing the U.S. government must pay for discriminatory treatment toward the 1,200-mile pipeline, which proposed carrying crude from Hardisty, Alberta, to Steele City, Neb.</p><p style="margin-top: 0px; margin-bottom: 24px; font-family: Georgia, serif; font-size: 16px; line-height: 24px;" class="">The claim comes under investor-state dispute settlement provisions in the original NAFTA that allow companies to sue governments for alleged discriminatory treatment. The USMCA will soon phase those out between the U.S. and Canada, but the updated deal signed last year allowed companies to use the legacy provisions for existing investments until July 2023.</p><p style="margin-top: 0px; margin-bottom: 24px; font-family: Georgia, serif; font-size: 16px; line-height: 24px;" class="">The news comes less than a month after <a href="https://go.politicoemail.com/?qs=ab92a9bd3a500811d8e0d627a58287597b321a18eb0a4515393e3e9d8b879e93eac79f686845aec5c26e8e88556ce137" target="_blank" class="">TC Energy formally announced an end </a>to its bid to build Keystone XL, which was first canceled by the Obama administration in 2015 before being revived by former President Trump. The company said it made the move after consultations with the government of Alberta and following a “comprehensive review of its options.” The provincial government was a partner on the project, putting Alberta taxpayers on the hook for the<a href="https://go.politicoemail.com/?qs=ab92a9bd3a50081124544d8e83b828d9f83dfb2cdb63e32b991fb78d1ac9510d3934a01db03ccaa3d1eddc95bac98e1a" target="_blank" class="">C$1.3 billion</a> the province invested in the pipeline.</p><p style="margin-top: 0px; margin-bottom: 24px; font-family: Georgia, serif; font-size: 16px; line-height: 24px;" class="">The Office of the U.S. Trade Representative did not comment on the case.</p><div class="">
Arthur Stamoulis<br class="">Citizens Trade Campaign<br class="">(202) 494-8826<br class=""><br class=""><br class=""><br class="">
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