Brazil
Tuesday Audio: Brazil, Chile, and Peru
These three cases are why small and medium businesses need a partner to help them navigate the diverse and fragmented Latin American market.
Trade
US-LatAm
USMCA’s 2026 Review Is Becoming a China, Tariff, and Supply-Chain Negotiation
USMCA is likely to survive, but the 2026 review is changing the logic of North American trade. Washington is not treating the pact as a simple renewal exercise. The United States is using the process to press Mexico and Canada on rules of origin, China-linked inputs, tariffs, and economic security.
Mexico
Mexico’s Growth Downgrade Challenges Nearshoring Narrative
Together, these signals show that nearshoring will not deliver stronger growth unless Mexico addresses the four constraints identified by Banxico and confirmed by international assessments — weak investment, weak activity, policy uncertainty, and inflation pressure.
Brazil
Brazil’s Tariff Shock Raises China-Competition Risk for U.S.-Linked Firms
Washington’s proposed 25% tariff on Brazilian imports is likely to strengthen Lula’s case for deeper engagement with China, increasing competitive risk for U.S.-linked firms in Brazil’s strategic sectors.