Archives: Latin America

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Recent Cuba Travel-related Settlements With OFAC Demonstrate Importance of Robust Sanctions Compliance Program

On June 13, 2019, the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced settlements with three travel companies – Expedia Group, Inc. (Expedia), Hotelbeds USA, Inc. (Hotelbeds USA) and Cubasphere Inc. (Cubasphere) – for their alleged involvement in booking travel to Cuba or arranging trips for Cuban nationals between 2011 and 2014.… Continue Reading

President Trump: “When It Comes to Leverage, Tariffs Are King” – What You Need to Know

Since taking office in January 2017, President Trump has made use of several provisions of US law – including Section 301, targeting unfair trade practices, and Section 232, targeting threats to national security – to bring trading partners to the negotiating table. Major developments over the last two weeks could impact global supply chains across a wide range … Continue Reading

NAFTA Modernization Talks – Round One Completed; Next Stop, Mexico

The first round of 5-day negotiations to modernize the North American Free Trade Agreement (NAFTA) concluded on August 20. In a joint statement released by trade officials from the United States, Mexico and Canada, they restated the commitment to updating the deal, continuing domestic consultations, and working on draft text. They also committed to a … Continue Reading

NAFTA Update: US Administration Formally Notifies Congress of Upcoming Talks

On May 18, 2017, US Trade Representative Robert Lighthizer formally notified the US Congress of President Donald Trump’s intent to renegotiate the North American Free Trade Agreement (NAFTA). In letters transmitted to senior Congressional leaders, Ambassador Lighthizer pledged that the administration will consult closely with Congress to ensure its negotiating positions are consistent with the … Continue Reading

Trade Talk: Week in Review (13-19 February 2017)

President Donald Trump hosted the Canadian and Israeli Prime Ministers at the White House last week.  Secretary of State Rex Tillerson and Secretary of Homeland Security John Kelly traveled to Mexico City this week to discuss trade and security matters. Cabinet Shuffle.  Gen. Michael Flynn resigned as the National Security Advisor (NSA) last week, after … Continue Reading

U.S. and Latin America Trade: Who could be affected by a shift in U.S. Trade Policies?

Since taking office on January 20, 2017, President Trump’s actions on several trade-related matters – from officially withdrawing the US from the Trans-Pacific Partnership (TPP), to signaling the renegotiation of the North American Free Trade Agreement (NAFTA), to suggesting reconsideration of existing bilateral trade agreements – will have a ripple effect seen and felt around the … Continue Reading

Trade Talk – Week in Review (21-25 March 2016)

Early last week, President Barack Obama visited Cuba, the first U.S. executive to do so in 90 years, before concluding his trip abroad in Argentina.  The President’s historic stop was overshadowed by the terrorist attack in Brussels.  This week, President Obama will host the Nuclear Security Summit in Washington, on the margins of which he … Continue Reading

Trade Talk Week in Review (14-18 March 2016)

President Barack Obama issued a new Executive Order and restrictions related to North Korea, while the Administration eased some U.S. sanctions against Cuba last week.  The President and his family traveled to Cuba on Sunday and will stop in Argentina later in the week. The White House announced early last week that South Africa had … Continue Reading

A Hot Year for Trade – Trade Practitioner Takes Trade Talks on the Road

Frank Samolis, co-leader of our International Trade Practice chaired and presented at two conferences regarding recent trade developments in TPP and TTIP in early November. The first of two conferences was in Moscow, where Frank discussed the future of TTIP, in particular for the Russian and Eurasian markets. He commented, “We covered many of the … Continue Reading

TPP in the Spotlight

Our firm recently became one of two sponsors of Washington International Trade Association (WITA)’s TPP Series. The series aim to convene diverse stakeholders in the TPP game to discuss various aspects of the ambitious agreement over the next few months. The first event launched on November 19 at WITA’s home in the Ronald Reagan International Trade Center in … Continue Reading

Multiple Financial Institutions Settled Liability for Sanctions Violations

OFAC announced settlement agreements with Crédit Agricole Corporate and Investment Bank (CACIB) and Banco do Brasil for apparent violations of US sanctions. CACIB agreed to pay a total of US$787.3 million in criminal and civil financial penalties, which included penalties assessed by multiple government authorities, in connection with thousands of apparent violations of US sanctions. … Continue Reading
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