In The Wall Street Journal, Brendan Hanifin Discusses Geopolitical Challenges for Businesses
2022 was an eventful and tumultuous year for geopolitical developments, including Russia’s invasion of Ukraine and increasing tensions between the U.S. and China over treatment of the Uyghur minority group. Litigation & enforcement partner Brendan Hanifin commented in an article from The Wall Street Journal discussing the impact of these events on global business.
In addition to international companies halting operations in Russia, the U.S. government imposed trade restrictions that amount to a “comprehensive embargo by another name,” Brendan said.
Similar federal restrictions will increasingly force companies to “pose questions about how to manage the complicated U.S. relationship with China,” he added. The Uyghur Forced Labor Prevention Act, as well as other measures, block imports such as cotton and solar panel components to the U.S. from China’s Xinjiang region. Experts anticipate these business challenges created by complex international relations will continue in 2023.