Companies waiting for the U.S. tariff landscape to settle are misreading the moment. The better move is to engage now while comment windows and negotiations remain open. In this episode of "Global Markets Policy & Power," International Trade attorney Molly O'Casey hosts trade policy and litigation attorneys Ashley Akers and Patrick Childress and Senior Policy Advisors Peter Tabor and Liz Cordova as they make their way through a midyear road map covering the post-International Emergency Economic Powers Act tariff regimes, pending Trade Act of 1974 Section 301 and 232 investigations, and the status of United States-Mexico-Canada Agreement (USMCA), China, India and European Union trade negotiations.

With Section 122 tariffs set to expire July 24, 2026, and Section 301 emerging as the administration's tariff tool of choice, the panel explains the differences between these two measures and flags opportunities for stakeholders to weigh in before the Office of the U.S. Trade Representative concludes its investigations. They then present observations on USMCA review, noting that the U.S. and Mexico are largely renegotiating core trade provisions bilaterally – while Canada sits outside the room. On the compliance front, Ms. Akers warns that U.S. Customs and Border Protection and the U.S. Department of Justice are now in full enforcement mode, pressing importers on classification, valuation and country of origin and expecting proactive diligence well before goods are ever detained. The lightning round-style conversation offers a look into where trade policy stands now and where companies should focus advocacy and compliance efforts.

For companies eyeing Venezuela, the loudest signal from Washington is not the lifting of sanctions but the deliberate pace at which it is happening. In this episode of "Global Markets Policy & Power," Senior Policy Advisor Beth Viola and Partners Jim Noe and Ambassador Nathan Sales discuss how the White House and U.S. Departments of the Treasury, State and Energy are coordinating policy toward Venezuela and what Congress is watching. They explain that the administration is rolling out a three-phase recovery process, featuring tailored Office of Foreign Assets Control (OFAC) general licenses and positioning the White House and its Energy Dominance Council as the central front door for industry. They also caution that the clearest green light for capital will come only when Venezuela schedules elections, advising private sector investors and oil and gas companies that though the executive branch will support efforts to engage Venezuela, the transition in Caracas is not yet complete.

Sanctions relief in Venezuela may create new opportunities, but it does not lessen the cost of compliance failures.

In this episode of "Global Markets, Policy and Power," Partners Stephanie Connor and Andres Fernandez examine how the Office of Foreign Assets Control's (OFAC) 2026 Venezuela general licenses are operating in practice for companies and financial institutions, with a focus on due diligence, bank risk tolerance and the limits of what the authorizations permit. They underscore that even when transactions are authorized, institutions still need detailed documentation, updated risk assessments and a clear record of reasonable reliance. Sanctions remain in place, Foreign Terrorist Organization (FTO) designations still apply and enforcement exposure can escalate quickly.