To help businesses prepare for the road ahead, Baker McKenzie recently launched Trump on Trade, a new online resource with information on the business implications of the Trump administration’s anticipated trade policies.
The page outlines some of President Trump’s statements on international trade and investment issues, as well as questions business should begin asking in the short term to “identify the potential risks – and opportunities – presented by the incoming administration’s international trade and investment agenda.”
The page also provides numerous recommendations to companies, with a focus on:
- Global supply chains. A renegotiation of at least some NAFTA provisions is likely. Accordingly, US manufacturers whose operations rely on NAFTA should consider how best to engage in this process.
- Immigration. If NAFTA is renegotiated, companies may face hurdles related to the movement of professional talent.
- Data privacy. An overhaul of NAFTA and the withdrawal from TPP could conceivably lead countries to implement rules under the guise of data protection but with an underlying intent and/or practical effect to restrict trade with the US.
- Sanctions. Investments in increased dialogue among multinational banks and their Cuban and Iranian counterparts remain key to any longer-term opportunities in Cuba or Iran.
- Energy. The renegotiation of NAFTA could present an opportunity to update NAFTA energy provisions to bring them in line with the foreign investor-favorable legal reforms made in Mexico over recent years.