Publication Date: 20-06-2025

On April 2, the U.S. tore up the trade rulebook it helped create, as the White House implemented sweeping tariffs that redefined how the world’s largest economy does business. Nearly all countries now face a 10% tariff, and higher individualized rates of up to 50% were also imposed before the Trump administration issued a 90-day pause, set to expire on July 9.

For the U.S.’s closest allies, Canada and Mexico, exceptions were carved out under the USMCA. However, for much of the world, including Latin America, the message was clear: trade with the U.S. would be on U.S. terms.

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