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(Michael Molinski is a senior economist at Trendline Economics. He’s worked for Fidelity, Charles Schwab and Wells Fargo, and previously as a foreign correspondent and editor for Bloomberg News and MarketWatch.)
PARIS (Callaway Climate Insights) — The trade balance between Europe and Latin America has sharply increased over the past year at the expense of falling trade between the U.S. and Latin America. That could have a net effect on climate change as Europe’s push for clean energy, deforestation and critical minerals take hold.
In 2025, the balance of trade between Europe and Latin America hit a record $325 billion. Based on early data, this year the balance of trade is expected to easily surpass last year. Minerals and metals from Latin America are chiefly responsible for that growth as gold, silver, copper and lithium lead the way.
As global leaders descend on New York this week to discuss climate change, trade and tariffs are expected to be high on the agenda. Yes, they will discuss the Iran war, the Russia-Ukraine war, AI, rising energy costs and rising interest rates, but trade will be amid all of that.