Paul Amberg and Wouter Kurpershoek discuss the judicial consequences of current affairs, with a focus on international trade and compliance issues, the cross-border movement of goods and services, and the regulatory framework around that.*
Amberg highlights the difficulties companies ask in terms of determining how sanctions will affect their business: what is your sanctions compliance advice for me; will I be penalized for such and such a transaction? While many of these dilemma’s carry legal consequences, they are actually more of a foreign policy issue than a strictly legal question. As far as trade wars go, we are facing an interesting era of retaliatory tariffs on basically three fronts: US-EU, US-China and US-Turkey. Going forward, more and more barriers seem likely.
All in all, at the end of the day it’s about trying to contextualize your advice so that the client – who knows more about their business than you do – can make a practical, strategic decision, knowing what the opportunity costs are and having the right information to navigate grey areas effectively.
* Recorded in August 2018