Tobacco giant Philip Morris International (PMI) has initiated an ICSID arbitration against Uruguay over new rules requiring that 80% of cigarette pack surfaces be devoted to graphic warnings of the dangers associated with smoking. Over the last two years the Uruguayan government has engaged in a public health campaign to lower the smoking rates among its population, which was as high as 50%. As part of the anti-smoking campaign the government implemented a series of measures that it claims are directed at protecting public health. Among these is a new rule increasing mandatory graphic warning labels on cigarette packs to 80% of the pack. The company alleges that the labeling requirements and recent tax increase harm its investments and infringe on its trademarks in violation of the Switzerland-Uruguay bilateral investment treaty.  U.S.-based … Read entire article »