“The Trump Administration kicked off 2026 with a new, more forceful foreign policy, driven by the so-called “Donroe Doctrine”. So, what could “America First” evolving to “Americas First” mean for economies, assets, and geopolitical risk? Trump’s former Special Envoy for Latin America, Mauricio Claver-Carone, and Johns Hopkins SAIS’ Hal Brands discuss the motives behind the Donroe Doctrine and agree it portends more action in the Western Hemisphere. GS’ Alberto Ramos then explores the implications for regional economies, and GS’ Neil Mehta and Daan Struyven dig into the implications for the asset at the center of recent events: oil. But with perhaps the most profound implication being the rise in geopolitical risk, we ask the Centre for Liberal Strategies’ Ivan Krastev what’s ahead for US-Europe relations (a rocky period, but not a divorce. The prospect of a fundamental shift in US policy is more real now than at any point in the last 70 years. – Hal Brands President Trump has long believed that the US can’t be the preeminent global power if it’s not the preeminent regional power.”
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