The annual report United States–Latin America and the Caribbean Trade Developments 2026 reviews trade trends in 2025 and recent changes in U.S. trade policy toward the region. This edition includes a dedicated analysis of trade with the Caribbean, reflecting the subregion’s distinct economic characteristics.

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Latin America and the Caribbean represented 22.2% of U.S. goods trade in 2025. Unusually large non-monetary gold flows, associated in part with tariff expectations and safe-haven demand, affected trade shares. Excluding non-monetary gold and goods under merchanting, the region’s share increased from 22.9% in 2024 to 23.2% in 2025.

The region represented 12.5% of U.S. services trade, with flows continuing to grow and shift toward digitally deliverable services. These accounted for 44% of U.S. services exports to Latin America. Caribbean services exports to the United States grew by 26.1%, although concentrated trade flows can generate considerable volatility in small economies.

Patterns of integration are increasingly differentiated: Mexico and Central America have deepened ties with the United States, while South America has strengthened links with China, particularly in agriculture and minerals. Meanwhile, the July 2026 USMCA joint review initiated annual reviews, and new Agreements on Reciprocal Trade are redefining market access, emphasizing supply chain security, labor standards and alignment vis-à-vis third countries.

Circular economy goods remain a modest but strategically relevant dimension of regional trade. In 2025, the region received 26% of U.S. exports of these goods and supplied 18% of U.S. imports, with Mexico as the main regional partner.

For more detailed information, download the full report.