The U.S. and China represent the world's two biggest economies, in that order, and factors affecting one or both of them often cause reverberations felt by economic systems of other nations. Such effects aren't always negative, however. For example, the current trade dispute between the two nations could notably benefit various Latin American countries.
According to Bonds & Loans, the alternating American and Chinese tariffs offer the most potential to Mexico, but other nations in the region stand to see some economic wins as well.
When it comes to Chinese tariffs on U.S. products, the possible advantages apply to a much broader spectrum of nations, Bonds & Loans reported. Chile's already massive seafood business is likely to see gains, as are Peru's and Ecuador's. Paraguay and Uruguay, major beef exporters, will see more orders from America. Soybean, sorghum, horticulture products and wine tariffs from China are good news for Brazil, Argentina, Mexico, Chile and Paraguay.
Free trade was the prominent topic at the Pacific Alliance summit, a major Latin American economic conference in late July. According to The Business Times, representatives of Mexico, Colombia, Chile and Peru expressed a collective desire to collaborate instead of falling into protectionist debates.