LatAm got it easy in Trump’s tariffs, but pressure on Mexico continues
Date: 29 April
We will examine what US tariffs mean for the region. Most Latin American countries face lower direct trade disruptions than Asian and European competitors from President Trump’s reciprocal tariffs. Lower dependence on US trade and tariff exclusions will limit direct impacts, but second round effects, lower commodity prices and China’s response will shape the fallout for the region. Mexico’s especially conciliatory stance has not yet yielded substantial concessions and downside risks to our outlook grow as Trump doubles down on attacks to its closest trade partner.
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