On July 21, the presidents and other high-level officials of Mercosur’s member nations – Argentina, Brazil, Uruguay and Paraguay – met in Mendoza, Argentina to discuss the trade bloc’s next steps for increasing free trade with other regions. Top priorities on the agenda were the finalization of the trade negotiations with the European Union, as well as the continuation of trade talks with the Pacific Alliance, comprised of Chile, Colombia, Mexico and Peru. Mercosur is also aiming to establish strong trade relationships with Japan, India, Australia, and New Zealand.
The Mercosur region has suffered a number of political and economic challenges in recent years; however, the change in leadership in both Argentina and Brazil has opened the doors for rapid advancement of international trade deals and access to foreign markets. An important factor in Mercosur’s motivation to strengthen its trade ties with other countries is the economic recession in Brazil and its significant impact on neighboring countries and Latin America in general. Today, Brazil still faces a long road to recovery as it works through the high magnitude of corruption scandals and government mismanagement.
Peruvian miners recently took to the streets in a strike meant to protest proposed labor reforms. The labor reforms, proposed by President Pedro Pablo Kuczynski’s administration, aim to loosen restrictions on the termination of workers and generally relax regulations.
This week, the Trump Administration took a major step forward in laying the groundwork for the upcoming renegotiation of the North American Free Trade Agreement (NAFTA). On July 17, the Office of the US Trade Representative (USTR) released a summary of the Administration’s 
In an effort to bring the Dominican legal framework up to date with new international standards, on June 1, 2017, the Executive Power of the Dominican Republic promulgated the new Anti-money Laundering and Terrorist Financing Act 155-17 (“New Law”). The New Law overhauls the Anti-money Laundering Act 72-02 of June 7, 2002, to allow for a more adequate, coherent and contemporary legal framework.
Squire Patton Boggs 
U.S. President Donald Trump welcomed Colombian President Juan Manuel Santos to the White House on Thursday, May 18, to discuss strengthening bilateral relations, including efforts to combat illegal narcotics. Entering the final year of his presidency with strong political headwinds, President Santos brought attention to this growing partnership, including in trade, saying during their joint press conference, “The number of Colombian businesses that are exporting to the United States has grown. And we both believe that we can take greater advantage of those agreements in order to increase flows in both directions for the benefit both of the Colombian and American peoples.”
Under pressure to make good on campaign promises as his first 100 days in office drew to a close, President Donald Trump considered a number of new trade-related actions last week, highlighting the importance of stakeholder engagement with his Administration on trade matters.
On February 4, 2010, after more than a decade of negotiations, government officials from the United States and Chile executed the first bilateral income tax treaty (“Tax Treaty”) between the two countries. This event marked an important next step in economic cooperation; the United States-Chile Free Trade Agreement, which entered into force on January 1, 2004, had already significantly increased free trade by removing tariffs, reducing barriers, and providing necessary legal protections for investors from both countries. The Tax Treaty was designed to further encourage the stream of cross-border investments and widen the United States’ tax treaty network in Latin America beyond Mexico and Venezuela.
Brazilian President Michel Temer will submit a bill to modify the Brazilian Aviation Code and allow foreign capital to own 100 percent of any Brazilian airline. If approved by Congress, the new ruling will end the existing 20 percent limitation. The measure comes as part of the Government’s strategy to boost tourism industry in the country. It is expected that removing the foreign capital restriction will allow more investments in aviation, thus increasing competitiveness and the availability of flights, which may reduce costs to the consumer.