THE leaders of Mexico and Brazil have vowed to strengthen trade between their nations, Latin America’s two biggest economies.

The move provides evidence of the sort of trade alliances likely to be developed as a counterweight to US President Donald Trump’s shifting positions on global tariffs, which have thrown markets into chaos.

Mexican President Claudia Sheinbaum and Brazilian President Luiz Inacio “Lula” da Silva met on Wednesday on the sidelines of a major regional summit in Honduras, where leaders planned how to respond to Mr Trump’s tariffs and escalating deportations, among other issues.

Lula posted on X: “We decided to further strengthen relations between our two countries by promoting regular meetings between our governments and the business sectors of Brazil and Mexico.”

The meeting of 11 heads of state and 20 representatives from member countries of the Community of Latin American and Caribbean States was marked by a call to put aside differences in the face of global tensions.

“Today, more than ever, is a good time to recognise that Latin America and the Caribbean require unity and solidarity,” Ms Sheinbaum said during the summit.

Meanwhile, Mr Trump announced that he had decided to suspend the tariffs on most countries’ imports, bar a 10 per cent base level, for 90 days. China, which was hit with increased 125 per cent tariffs, was the only exception.

Even with the pause, resentment still simmers among many trading partners and US allies, which have started to look for trade alternatives in the face of uncertainty under the Trump administration.

Adding to the economic turmoil are also frustrations over Mr Trump’s deportation tactics, which are increasingly the subject of legal scrutiny and human rights criticisms, and actions by his administration that some say infringe on the sovereignty of foreign nations.