Corn Products International, Inc. v. Mexican States
Corn Products International, Inc., a U.S. corporation, filed a notice of arbitration against Mexico under the ICSID Additional Facility Rules on behalf of itself and its wholly-owned subsidiary, Arancia Corn Products, S.A. de C.V., a Mexican company. Corn Products claims that its investments in the high fructose corn syrup industry in Mexico have been adversely impacted by Mexico's 2002 adoption of a tax on high fructose corn syrup. Corn Products alleges that the tax is aimed at protecting Mexico's domestic sugar producers and excluding high fructose corn syrup from the soft drink sweetener market. Corn Products asserts that Mexico's tax on high fructose corn syrup violates the national treatment obligation under NAFTA Article 1102, the prohibition on performance requirements in NAFTA Article1106 and the prohibition on indirect expropriation in NAFTA Article 1110. Corn Products seeks damages in excess of $325 million.
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