Many talk about the United States’ declining influence in Latin America, pointing to the rising role of China or European companies, investors, and governments. Yet a closer look at the economic ties between the United States and Latin America questions whether this part of the relationship has in fact weakened.The United States has been Latin America’s biggest trading partner throughout much of the region’s history, and this trend continues today. In 2011 trade between the United States and Latin America topped $800 billion, more than three times the region’s exchanges with China. It is also growing faster than U.S. trade with nearly any other region in the world—over 80 percent in the last decade. The lion’s share occurs between the United States and Mexico $460 billion, or some 58 percent of regional trade. U.S. commercial ties with Brazil and Venezuela follow, together totaling another 16 percent.For Latin America’s seventeen countries, thirteen import more goods from the United States than anywhere else. This includes Chile, Colombia, Guatemala, Venezuela, Honduras, and Mexico. Most of these imports are manufactured goods, including computers and computer accessories, telecommunication parts, cars, civilian aircraft, and machinery. For ten of the seventeen countries, the United States is the primary export destination. Most send raw materials—oil, minerals, and agricultural products—to the north.
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What we are Reading.
- Mexico´s Oil And Gas Reform Gains Momentum
- How Trump Can Make Trade With Mexico and China Work for America
- The US Trade Deficit With Mexico Has Been Flat For 15 Years | Mother Jones
- Scrapping NAFTA would knock 2.7 percent off Mexico’s GDP: U.N. commission | Reuters
- Mexico Overtakes Canada as No. 2 U.S. Exporter Ahead of Trump – Bloomberg