Comprised of some of the world’s most experienced geopolitical minds and business experts, Lazard Geopolitical Advisory provides strategic insights and bespoke analyses to help clients navigate potential risks and opportunities and meet their unique goals.
In their latest report, Lazard Geopolitical Advisory outlines the potential paths for the upcoming USMCA review, highlighting scenarios ranging from a revised agreement with tighter trade rules to a full dissolution of the deal that forces bilateral negotiations, with a less likely option of maintaining the pact under annual review. The analysis notes that Section 232 tariffs and ongoing sector investigations will heavily influence the talks, while deep North American economic integration makes a disruptive breakup unlikely, even as uncertainty continues to weigh on Mexico and Canada.
Lazard Asset Management serves as the Portfolio Manager of the Caldwell-Lazard CorePlus Infrastructure Fund.
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The information contained herein is intended to provide you with general information related to investment alternatives and strategies and is not intended to be comprehensive investment advice applicable to the circumstances of a specific investor. Commentary and portfolio characteristics are the opinion of the Portfolio Manager based on market conditions as of November 2025. References or inferences to returns do not take into account any management fees, transaction costs, commissions, custodial fees, taxes or other costs that apply when purchasing securities. We strongly recommend consulting with a professional advisor prior to making investment decisions.