#trade-protectionism

#trade-protectionism

China has been flooding Latin American markets with low-priced exports, especially autos and e-commerce goods, as its exporters adjust to U.S. President Donald Trump's tariffs and geopolitical moves. The world's second-largest economy has become a major trading partner for many Latin American nations, seeking access to their abundant natural resources and growing markets while expanding its influence in a region Trump views as America's Backyard.

Trump can happily accept the neoliberal agenda when it means privatising government agencies and commonly held assets. He is enthusiastic about deregulation and handing the private sector all the freedom it needs to exploit workers and resources to boost profits. But what Trump's America First agenda cannot live with is tariff-free trade. He also resists anti-trust and anti-corruption laws, low budget deficits, and the abolition of barriers to foreign investment that qualify as central tenets of the Washington consensus.

"The recent market developments around tariffs have raised questions on the safe-haven status of USD/UST, but have bolstered that of gold."