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Keystone XL's $15 billion trade suit against the United States is set for takeoff

TC Energy suspends Keystone XL following order by Biden vacating its presidential permit

TC Energy said Biden's decision to cancel the Keystone pipeline's presidential permit affected thousands of high-paying jobs.

Keystone Xl’s $15 billion pipeline claim against the United State is all set to proceed. Prominent French arbitrator Alexis Mourre has been tapped to preside over the international case, brought by Canadian company TC Energy to challenge America’s summary cancellation of the project after President Joe Biden took office.

The trade suit is proceeding as a legacy NAFTA case, since that is the trade agreement that was in place at the time. Under Chapter 11, investor-state dispute settlement provisions allow companies to seek compensation for lost investments.

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