In late January, two days prior to Chilean lawmakers' passage of social security reforms, U.S. investors expressed concerns about the potential impact of these reforms on their investments. David Chavern, head of the American Council of Life Insurers, relayed these worries in a letter to President Gabriel Boric, emphasizing the reforms might deter investor confidence. The situation reflects a broader anxiety among South American officials about U.S. policy under Donald Trump's administration, particularly regarding historical tensions and fears that the U.S. may reassert its influence in the region.
Two days before Chilean lawmakers passed a long-debated package of social security reforms in late January, a group of U.S. investors unhappy with the legislation sent an ominous letter to President Gabriel Boric.
The proposed reform package, he said, would adversely affect the confidence of investors. A clear reference to the 2004 U.S.-Chile free trade pact, the warning was 'we'll tell Trump ... we're sure he'll be disappointed,' said a senior South American official.
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