The Latin American Lawyer
Carmigniani Pérez in Ecuador,
says: “Trump is clearly against free
trade agreements – Clinton is at
least neutral.”
However, there is a view
that renegotiating current trade
agreements may not necessarily
be a bad thing. Laércio Pellegrino
Filho, partner at Simões Pellegrino
Coelho e Castro Advogados in
Brazil, said a Trump presidency
might seek “fair trade” as opposed
to “free trade” agreements, which
might be tougher on China and its
trade practices and thus create a
window of opportunity for Latin
American countries to increase
their exports.
Only 26 per cent of survey
respondents agreed that a Clinton
presidency would enhance US
relations with the Pacific Alliance
countries in addition to signing
the Trans-Pacific Partnership
(TPP) agreement. Meanwhile, 17
per cent of respondents said they
did not foresee any change to free
trade agreements between the
US and Latin American countries
regardless of the result of the
US presidential election. Twelve
countries are currently party to
the TPP: the US, Japan, Malaysia,
Vietnam, Singapore, Brunei,
Australia, New Zealand, Canada,
Mexico, Chile and Peru. However,
it has yet to be ratified in the US –
the TPP has been a feature of the
debate between the presidential
candidates with Trump voicing
strong opposition to it and
Clinton admitting the agreement
needs to be revised.
Though Colombia is not part of
the TPP, it has formed a trade bloc
with Chile, Mexico and Peru called
the Pacific Alliance. The alliance
has not been a key feature of the
Presidential campaign – Hernando
Padilla, partner at Philippi
Prietocarrizosa Ferrero DU & Uría
in Bogota, says the Pacific Alliance
is mainly an initiative for the
member countries themselves, so
the US election result is expected
to have little impact. However, the
majority of survey respondents
believe that Clinton is more likely
than Trump to support regional
trade initiatives such as the Pacific
Alliance.
Trump hampering Latin Americans
The issue of immigration has been a
major feature of the election debate
and some survey respondents
believe that Trump´s current
anti-immigration stance will have
a negative impact on any future
US-Latin America relations under
his presidency. A senior in-house
counsel at a major US company
with interests in Latin America
says: “Trump might make it more
difficult for Latin Americans to do
business in the US.”
However, Carlos Alfaro,
partner at Argentinean law
firm Alfaro-Abogados, argues:
“Both candidates will favour
the expansion of US business
abroad and will want to protect
US businesses from foreign
competition – the candidates will
adopt a practical approach to
relations with Latin America.”
News in brief
Norton Rose Fulbright set
to open in Mexico
Norton Rose Fulbright is
poised to open in Mexico
later this year, according
to sources. The global firm
– which already has offices
in Bogota, Caracas and Rio
de Janeiro – has a Latin
America-focused practice
group including over 160
lawyers.
Jones Day instructed on $2
billion Mexico City Airport
offering
Jones Day advised Mexico
City Airport on Mexican
law matters relating to the
execution of an initial $2
billion two-tranche 10 and
30 year 144A/Reg-S bonds
offering.
Cuatrecasas and Posse
Herrera Ruiz form legal
alliance in Colombia
Cuatrecasas, Gonçalves
Pereira and Posse Herrera
Ruiz have announced a
strategic alliance. The firms
confirmed that they will
remain independent and
ruled out a merger.
Carey advises Danone on
Chilean subsidiary sale
Carey acted for Danone,
the French multinational
food company, on the sale
of its Chilean subsidiary
Danone Chile to Watt’s. The
transaction was valued at $24
million.
Hughes Hubbard recruits
Grupo Pellas general counsel
Hughes Hubbard & Reed
announced that Ruben Diaz
has rejoined the firm as
partner in Miami. Diaz joins
from Grupo Pellas, a Central
American financial and
commercial group, where he
was general counsel.
www.iberianlawyer.com
September / October 2016 • IBERIAN LAWYER • 15