U.S. Tariffs: Between Caution and Relief in Mexico and Brazil

The recent decision by the U.S. Supreme Court regarding the validity of tariffs imposed by Washington has been met with mixed reactions in Mexico and Brazil. In these two major Latin American countries, the shockwave triggered by American protectionist policy oscillates between cautious optimism and prudent vigilance.

In the eyes of several economic officials in Mexico City, the possibility that the taxes imposed by Washington could be invalidated by the highest U.S. court may ease some of the trade pressures felt over the past year. However, these same decision-makers remain attentive to the next steps taken by the U.S. administration, as new measures could be adopted under different legal instruments.

In Brasília, the response is similarly nuanced. Political and economic leaders welcome the prospect of easing tariffs that had heavily impacted certain key sectors, but they stress the need to continue dialogue with Washington to stabilize trade relations over the long term. This caution reflects an awareness that legal uncertainties in the United States can make bilateral trade volatile.

Within Latin American business circles, the hope for greater predictability is tempered by concerns that the White House may find alternative legal avenues to maintain or renew tariffs, even partially, potentially complicating future negotiations.