Economic Commission for Latin America and the Caribbean releases annual report: warns of the impact of US tariffs and calls for trade diversification

On November 19th local time, the United Nations Economic Commission for Latin America and the Caribbean (Latin America and the Caribbean) released its annual report "International Trade Outlook for Latin America and the Caribbean 2025: International Trade in the New Era of Utilized Interdependence". The report analyzed the impact of US tariff policies on the Latin American region and made recommendations to address the situation characterized by geopolitical tensions and high uncertainty.

According to the annual report released by the Economic Commission for Latin America and the Caribbean, after the implementation of various tariff policies by the United States in February 2025, the average actual tariff faced by the Latin American region is 10%. Although it is lower than the global average of 17%, the actual impact of the additional tariffs will become apparent in 2026.

The report points out that deepening regional integration and strengthening trade relations with partners such as China, the European Union, and India, promoting trade diversification, will "open up opportunities" for the region. Regional integration also has potential in areas such as infrastructure, trade facilitation, and regulatory coordination. Among the major trading partners in the region, it is expected that the export value to China will increase the most by 7% in 2025, mainly driven by the growth of meat and soybean exports and the rise in prices of copper and other mineral products. Exports to the European Union will increase by 6%, and exports to the United States will increase by 5%.