President Biden’s Farewell Tour in Latin America
President Biden is currently visiting Latin America as part of a farewell trip before attending two important summits: the Asia-Pacific Economic Cooperation (APEC) summit in Peru and the G-20 summit in Brazil. This tour is seen as a significant moment in Biden’s long political career.
In Lima, Peru, Biden is focusing on discussions with world leaders at the APEC summit, where he will emphasize the importance of the Indo-Pacific region. His next stop will be in Rio de Janeiro, Brazil, to meet with Brazilian President Luiz Inácio Lula da Silva during the G-20 summit on Sunday.
Political analysts indicate that the Biden administration may not have much influence over the future direction of these institutions, especially with the recent election victory of former President Trump. Ariel González Levaggi, a senior associate at the Center for Strategic and International Studies, mentioned that with a leadership change, the G-20 will likely lose some political importance, limiting Biden’s capacity to make commitments.
Biden is also scheduled to meet with Chinese President Xi Jinping at the APEC summit. China has been ramping up its economic presence in Latin America, particularly in Peru. Recent projects, such as the new Chancay megaport, which was inaugurated by Xi and Peruvian President Dina Boluarte, exemplify China’s growing investment in the region.
China has emerged as South America’s top trading partner, with trade between the two having soared from $12 billion in 2000 to an estimated $315 billion by 2020. Projections suggest that this trade could more than double by 2035, reaching over $700 billion.
As Biden attends these summits, most analysts believe that they will likely mark some of his final international appearances amid the backdrop of Trump’s return to political power. The focus of these discussions is expected to hover around trade, global security, and partnerships, but significant agreements are not anticipated by the end of the events.
With the leadership changes, experts suggest that Biden is facing challenges from both Trump’s political comeback and China’s enhanced position in Latin America. This situation creates a delicate balance for the U.S., especially as Trump has signaled an aggressive trade policy for his upcoming term.
Furthermore, countries involved in the G-20, as well as traditional U.S. allies, may need to prepare for potential increases in tariffs, with Trump likely reinstating some aspects of his "America First" approach to trade. The impact of Trump’s policy could reach tariffs of up to 25% on certain imports, which could affect economic relationships globally.
As Biden’s farewell tour unfolds, the outcomes of these summits will be closely watched to see how U.S. leadership shapes up against emerging dynamics in global politics and economics.
