Implications of an “Americas First” Foreign Policy

19 snips

Feb 3, 2026

Guest

Mauricio Claver-Carone

Guest

Hal Brands

Mauricio Claver-Carone, former U.S. Special Envoy for Latin America and Latin America-focused investor, and Hal Brands, Johns Hopkins global affairs professor and grand-strategy scholar, discuss a more assertive U.S. posture in the Western Hemisphere. They examine drivers of the Donroe Doctrine, competition over resources and influence, implications for China and Russia, regional elections, and investor risks from a shifted U.S. role.

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INSIGHT

Mix Of Structural Forces And Personal Drive

The Donroe Doctrine mixes structural geopolitics with President Trump's personal priorities in the Western Hemisphere.
It revives an assertive regional posture focused on consolidating U.S. dominance across diplomatic, economic, and military tools.

INSIGHT

Resource Control Drives Policy Toward Venezuela

Trump links national power strongly to control of resources and sees Venezuelan oil as strategically valuable.
His emphasis on economic gain gives the doctrine a neo-mercantilist flavor rather than a democracy-first rationale.

ANECDOTE

Naval Absence Shaped Presidential Concern

Mauricio Claver-Carone recalls Trump's surprise that no U.S. Navy ships were present near Venezuela during earlier crises.
That experience shaped the president's demand for a stronger, visible U.S. regional presence.

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What could more assertive US foreign policy in the Western Hemisphere — driven by the so-called “Donroe Doctrine”— mean for the global order? Hal Brands, professor of global affairs at the Johns Hopkins School of Advanced International Studies, and Mauricio Claver-Carone, President Trump’s former Special Envoy for Latin America, and managing partner of the Latin America Real Assets Opportunity Fund, explore what’s driving this more assertive posture and its implications with Allison Nathan on the latest episode of Goldman Sachs Exchanges. This episode explores the latest Top of Mind report: https://www.goldmansachs.com/insights/top-of-mind/americas-first

This episode was recorded on January 12, 13, and 30, 2026. The opinions and views expressed herein are as of the date of publication, subject to change without notice and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, expressed or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.

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