Ben Dummett

Whereas Europeans previously dictated what U.S. companies had to follow in terms of policies in order to sell goods into Europe, that's being reversed now to a degree.

Whereas Europeans previously dictated what U.S. companies had to follow in terms of policies in order to sell goods into Europe, that's being reversed now to a degree.

Yeah, that's right. In May, the Attorney General has been instructed to issue a report that will identify companies in the private sector that they deem have promoted practices that they see as illegal and discriminatory through the DEI policies. So that's created, you know, essentially we've talked to some lawyers and they've said that that's triggered an avalanche

Yeah, that's right. In May, the Attorney General has been instructed to issue a report that will identify companies in the private sector that they deem have promoted practices that they see as illegal and discriminatory through the DEI policies. So that's created, you know, essentially we've talked to some lawyers and they've said that that's triggered an avalanche

of inquiries from companies just trying to figure out how to navigate this problem and avoid being on the list. This story focuses on European companies that have global operations, i.e. big operations in the U.S. And so what's happening is they don't want to be in a situation where they've implemented DEI policies that find themselves running afoul of changes in the U.S. rules and

of inquiries from companies just trying to figure out how to navigate this problem and avoid being on the list. This story focuses on European companies that have global operations, i.e. big operations in the U.S. And so what's happening is they don't want to be in a situation where they've implemented DEI policies that find themselves running afoul of changes in the U.S. rules and

And that resulting in a sort of backlash from employees or customers in Europe who are supportive of DEI and by the same token, customers in the U.S. that may take a different view.

And that resulting in a sort of backlash from employees or customers in Europe who are supportive of DEI and by the same token, customers in the U.S. that may take a different view.

Well, they're doing a couple of things. In the case of Aldi, for example, which is a big discount grocer based in Germany but has large operations in the U.S., particularly in the southern U.S., earlier this year, they changed their U.S. website to eliminate reference to diversity and inclusion.

Well, they're doing a couple of things. In the case of Aldi, for example, which is a big discount grocer based in Germany but has large operations in the U.S., particularly in the southern U.S., earlier this year, they changed their U.S. website to eliminate reference to diversity and inclusion.

But on their websites in parts of Europe where they operate, diversity and inclusion is still promoted as something important. And Santander, for example, a big Spanish-based bank.

But on their websites in parts of Europe where they operate, diversity and inclusion is still promoted as something important. And Santander, for example, a big Spanish-based bank.

Similarly, if you look at their latest annual report, they are saying now that senior employees that work for Santander in countries, they don't specify the U.S., but they say countries that have different policies regarding issues like DEI, those managers, their bonuses won't be determined based on the number of women they promote into senior managerial positions.

Similarly, if you look at their latest annual report, they are saying now that senior employees that work for Santander in countries, they don't specify the U.S., but they say countries that have different policies regarding issues like DEI, those managers, their bonuses won't be determined based on the number of women they promote into senior managerial positions.

or executive roles, whereas bonuses will continue to be influenced outside the U.S. in part by their ability to promote women into senior executive positions.

or executive roles, whereas bonuses will continue to be influenced outside the U.S. in part by their ability to promote women into senior executive positions.

What's going on with the U.S. and how it's impacting Europe, you know, it's kind of a reversal of what's known as the Brussels effect with policies introduced by Europe that because of the size of the European marketplace, which is comprised of about 450 million people, their policies for a long time heavily influenced the way companies, for example, in the U.S.,

What's going on with the U.S. and how it's impacting Europe, you know, it's kind of a reversal of what's known as the Brussels effect with policies introduced by Europe that because of the size of the European marketplace, which is comprised of about 450 million people, their policies for a long time heavily influenced the way companies, for example, in the U.S.,

did things in order to make sure they abided by the rules of Europe in order to, you know, sell their goods into this region. So it just basically speaks to the fact that we live in a sort of a global marketplace. And as a result.

did things in order to make sure they abided by the rules of Europe in order to, you know, sell their goods into this region. So it just basically speaks to the fact that we live in a sort of a global marketplace. And as a result.

Major decisions by huge economic blocs, whether it's Europe or the U.S., that really pivot away from what has been going on for some time is going to put companies on edge, is going to create a lot of confusion, is going to create diverging policies. And as a result, it's going to take time to figure out what's right, what's wrong.

Major decisions by huge economic blocs, whether it's Europe or the U.S., that really pivot away from what has been going on for some time is going to put companies on edge, is going to create a lot of confusion, is going to create diverging policies. And as a result, it's going to take time to figure out what's right, what's wrong.