On Wednesday, the leaders of Mexico and Brazil announced their intentions to enhance trade relations between their countries, the two largest economies in Latin America. This move is seen as a response to the evolving positions on global tariffs under U.S. President Donald Trump, which have caused market instability.
Mexican President Claudia Sheinbaum and Brazilian President Luiz Inácio Lula da Silva convened at a regional summit in Honduras, where they deliberated on strategies to address issues stemming from Trump’s tariffs, increasing deportations, and other related concerns.
President Lula expressed the commitment to strengthen ties by promoting regular meetings between the governments and business sectors of both nations. He shared this development on the social media platform X.
The summit, attended by 11 heads of state and 20 representatives from Latin America and the Caribbean, regrouped under the Community of Latin American and Caribbean States, emphasized the need for unity amidst global challenges.
President Sheinbaum highlighted the importance of solidarity across Latin America and the Caribbean during her address at the summit.
On the same day, President Trump announced a 90-day suspension of global tariffs for most countries, excluding China, which faced an increase to 125% tariffs, escalating ongoing trade tensions with the U.S.
Despite the temporary respite, many trading partners and allies of the U.S. continue to seek stable trade alternatives due to uncertainties surrounding the Trump administration.
Compounding economic concerns are grievances regarding Trump’s deportation policies, which face legal and human rights scrutiny, and actions perceived as infringing on other nations’ sovereignty.
This includes comments by U.S. Defense Secretary Pete Hegseth about China’s presence in the Panama Canal being a security threat, and reports that the Trump administration may consider drone strikes against Mexican cartels—a proposal President Sheinbaum strongly opposes.
“We do not agree with any kind of intervention or interference,” President Sheinbaum stated during a press briefing on Tuesday morning.
The original story was published on Fortune.com.
