Emerging economies will face a year that will have lower global growth, will be starring Donald Trump’s tariffs and their own tax limitations.
Wells Fargo sees little maneuver margin for countries such as Brazil, Mexico, Chile and Colombia this 2025. This follows from a report that analyzes how performance will be in Latin America, the response capacity of governments and central banks.
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Thus, according to this entity it is expected that economic growth will decelerate 2.5% this year at a time when uncertainty will return after Donald Trump’s return to the White House. To this context, Latin America countries will have to add their own fiscal challenges.


LSo projections of Wells Fargo state that Trump will impose a 5% universal tariff to all US imports and a 30% tariff to all Chinese exports to the United States. This, they maintain, will influence that global growth falls to 2.5%.
For this entity, “emerging countries are especially vulnerable to global demand and capital flows. The dependence of these exports markets to the United States and Its sensitivity to changes in global economic policies exacerbate their exposure to these risks. “
According to the analysis, Most central banks in the region do not have enough space to implement expansive monetary policies. For Wells Fargo, countries like Brazil, Chile and Argentina face serious restrictions due to the high inflation and depreciation of their currencies.
“Most coins weakened within 2024, and depreciatory pressures intensified after US elections. A aggressive monetary flexibility could generate more depreciative pressures on local currencies“The bank said.
In the case of Chile, The dependence of copper exports makes it a country particularly vulnerable to any contraction in global demand. For its part to Mexico and ColombiaHe argued that Although they have a certain margin to make their monetary policies more flexible, they face significant risks if they choose to do so.
Source: Ambito

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