The heads of state from Mexico and Brazil have committed to working jointly to enhance trade between their countries, which are the largest economies in Latin America.
The action taken on Wednesday opposes US President Donald Trump's fluctuating stances on international tariffs, causing turmoil in the financial markets.
The Mexican President, Claudia Sheinbaum, along with Brazil's leader, Luiz Inacio Lula da Silva, had a meeting during the margins of a regional conference held in Honduras. The discussions included ways to address various challenges such as Mr. Trump’s tariff policies and increasing deportation rates, alongside other pressing matters.
"We have chosen to enhance the relationship between our two nations by facilitating frequent interactions between our governments and the business communities of Brazil and Mexico," stated President Lula on X.
The gathering of 11 national leaders along with 20 delegates from Latin America and the Caribbean, referred to collectively as the Community of Latin American and Caribbean States, emphasized the importance of setting aside disparities amid worldwide strains.
"Today, more than ever, it’s important to acknowledge that Latin America and the Caribbean need unity and solidarity," Ms Sheinbaum stated at the summit.
On Wednesday, Mr. Trump temporarily halted his worldwide tariffs for 90 days on most nations except China, which faced enhanced tariffs raised to 125%. This move marks further intensification of the trade conflict between the two nations.
Despite the halt in tariffs, lingering resentment persists amongst numerous trading partners and U.S. allies. These countries have begun exploring other stable trade options due to the uncertainties created during the Trump administration’s tenure.
In addition to the economic upheaval, there are significant grievances regarding Mr. Trump’s immigration policies, which have faced growing legal challenges and criticism for violating human rights. Furthermore, actions taken by his administration are perceived by many as encroaching upon the autonomy of other countries.
This ranges from former U.S. Defense Secretary Pete Hegseth claiming that China’s involvement in the Panama Canal poses a security risk, to recent accounts suggesting that the Trump administration is considering using drones for potential attacks on Mexican drug cartels—a notion that Ms. Sheinbaum firmly opposes.
“We do not agree with any kind of intervention or interference,” she told reporters on Tuesday in her morning news conference.