Latin America Needn't Choose Between U.S. and China
Exporters and importers in the region can keep both markets open, with ties negotiated deal by deal and sector by sector.
Updated on Nov. 3, 2026 in International Trade
UNCTAD official Luz Maria de la Mora, Director of the Division on International Trade and Commodities, said Latin America does not have to choose between the United States and China. Speaking to Bloomberg at the World Investment Forum 2026 in Doha, Qatar, she argued that both powers are vital export destinations and sources of goods and inputs for the region.
Why it matters
Many Latin American exporters and importers depend on one or both of these markets, so the framing of a non-exclusive relationship bears on sourcing and sales decisions. The statement signals a pragmatic approach favoring market and production-chain opportunities over alignment with either power.
The statement covers the trade relationships of the region as a whole, with China leading for several South American economies and the United States leading for Mexico and several Central American and Caribbean economies. No quantitative trade volumes or shares were cited in the source.
The players
UNCTAD
The United Nations Conference on Trade and Development, the UN body that analyzes global trade and investment and advises member governments on trade policy.
Luz Maria de la Mora
Director of UNCTAD's Division on International Trade and Commodities, who oversees the agency's trade analysis and commodities work.
The details
De la Mora's position is that Latin American governments should engage each power on practical terms, pursuing specific market access and production-chain opportunities rather than adopting a bloc-level choice. For exporters, this means relationships are likely to be assessed deal by deal and sector by sector. For importers and manufacturers that rely on inputs from either market, the approach implies continued sourcing from both.
Timeline
November 3, 2026: De la Mora's remarks were reported from the World Investment Forum 2026 in Doha, Qatar.
Market Landscape
The remarks reflect a wider pattern in which Latin American economies maintain trade ties with both the United States and China, with China leading for several South American nations and the United States for Mexico and parts of Central America and the Caribbean. The position positions the region as a multi-partner trading zone rather than one aligned with a single major power.
Operators in Latin American export and import businesses should review how much of their revenue and sourcing depends on the United States or China and map those dependencies by product line. Procurement and sales teams should track any bilateral trade-policy changes that affect either market, since the statement signals that engagement will be negotiated case by case.
The takeaway
Map each product line's dependence on United States and China markets, since UNCTAD's framing points to case-by-case engagement rather than a single alignment. Track bilateral trade-policy announcements that affect your specific export or import lanes.
Further reading
For broader context on how these partnerships are shaped, see our coverage of International Trade.
Source note: This article includes information reported by Prensa Latina.
