Government regulation is increasingly in the headlines in the United States today, as the new Trump administration and Republican majority Congress has made regulatory reform and a key part of its governing philosophy.
As part of this approach, one regulation that was recently rolled back was a 2010 bipartisan Congressional effort to address corruption around the world—particularly in undemocratic and poorer, developing countries—by bringing greater transparency to the impact of international private sector energy exploration.
As the European Union turns 60 years old this year, both pundits and detractors are looking at the shape and fate of the post-World War II experiment. Now comprising 28 member countries, what we now call “the EU” began with the signing of the two Treaties of Rome on March 25, 1957. One of the treaties, the European Economic Community (EEC), laid the foundation geographically and philosophically for the current framework and ideals of the European Union.
Around the world, international institutions and regulators are increasingly pressuring global banks to implement tougher measures to govern illicit financial flows and crimes, such as money laundering and financing for terrorism. In response, and particularly in volatile and smaller countries with limited financial markets and where local banks may be unable to meet these requirements, their global bank partners are increasingly cutting business ties with local affiliates and departing the market altogether.
During the recent U.S. presidential campaign, Donald Trump made reshaping America’s involvement in international economic affairs a centerpiece of his platform. As a candidate, he specifically called out international trade—from abandoned factories to lost jobs and competitive wages—as a locus for many of the economic and societal challenges facing the country. Since being elected president, Mr. Trump has gone so far as to threaten to "tear up" or renegotiate existing U.S. free trade agreements (FTAs). He has also stated his preference for negotiating new bilateral trade pacts as opposed to broader regional agreements.
Ms. Valdez is a Partner at Dentons Lopez Velarde based in Mexico City, where she focuses on energy, mergers and acquisitions, and project finance.
For the past 70 years since nationalization, the exploration and production of oil and gas in Mexico has been subject to a state monopoly and entrusted to Pemex, the national oil company. Pemex historic significance and economic weight as a contributor to public revenues has been unique in Mexico.
This article is a contribution from our network partner firm Insight Consulting Group based in London.
Theresa May has put Britain’s special relationship with the U.S. at the heart of her Brexit strategy. On the surface this seems a wise move. Anglo-American relations have experienced a resurgence whilst EU-U.S. relations have soured following the inauguration of President Trump. Both the EU and the U.S. are in need of the Atlantic bridge that Britain has historically provided. However, with major changes to the European status quo and U.S. foreign policy on the horizon, May will need to demonstrate that Britain can be more than a middleman if its influence on both sides of the Atlantic is to survive.
With the November 8, 2016 United States Presidential and Congressional elections concluded, the U.S. is now in the midst of a federal government transition process that will culminate with the inauguration of Donald J. Trump as the 45th president of the United States on January 20, 2017. The incoming 115th Congress has just begun its tenure, which will last from January 3, 2017 to January 3, 2019, and will operate during the first two years of the four-year presidential term. The 2016 elections resulted in continued Republican Party majority control of both houses of Congress: the House of Representatives and the Senate.
At no time in the last two years has the future of sanctions policy towards Russia over Ukraine been more uncertain. The transatlantic economic sanctions regime that has dominated American and European relations with Russia since 2014 is under scrutiny as a new president enters the White House and unanimous support among Europeans is waning. Political change in both the United States and the European Union is driving a new time of uncertainty.
As this new year begins, a number of countries in South America are facing serious economic and political challenges as well as national elections. In Brazil and Argentina, political leaders are grappling with long-lasting economic recessions and anxious citizens, while in Ecuador and Chile, South America’s “pink tide” may continue being rolled back as conservative candidates are catching up or leading the polls in upcoming presidential elections. Finally, the ongoing political and humanitarian crisis in Venezuela continues to command the attention of the region as well as the broader international community.