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Thank you for your interest inthis ECLAC publication Please register if you would like to receive information on our editorialproducts and activities. When you register, you may specify your particularareas of interest and you will gain access to our products in other formats. Register www.cepal.org/en/publications www.instagram.com/publicacionesdelacepal www.facebook.com/publicacionesdelacepal www.issuu.com/publicacionescepal/stacks www.cepal.org/es/publicaciones/apps United States-Latin Americaand the CaribbeanTrade Developments This document was prepared by Raquel Artecona, Economic Affairs Officer, and Daniel Perrotti, Research Assistant,both of the Economic Commission for Latin America and the Caribbean (ECLAC) office in Washington, D.C.Oscar R.Monterroso, aneconomic affairs intern, andNathanael Illies, aCarlo Schmid Fellow, both of the same office,contributed to this report. The United Nations and the countries it represents assume no responsibility for the content of links to external sitesin this publication. Mention of any firm names and commercial products or services does not imply endorsement by the United Nationsor the countries it represents. The views expressed in this document, which has been reproduced without formal editing, are those of the authorsand do not necessarily reflect the views of the Organization or the countries it represents. United Nations publicationLC/WAS/TS.2024/5Distribution: LCopyright © United Nations, 2024All rights reservedPrinted at United Nations, SantiagoS.2401194[E] This publication should be cited as: R. Artecona and D. Perrotti, “United States-Latin America and the Caribbean TradeDevelopments 2024”,Project Documents(LC/WAS/TS.2024/5), Santiago, Economic Commission for Latin America and theCaribbean (ECLAC), 2024. Applications for authorization to reproduce this work in whole or in part should be sent to the Economic Commission for LatinAmerica and the Caribbean (ECLAC), Documents and Publications Division, publicaciones.cepal@un.org. Member States and theirgovernmental institutions may reproduce this work without prior authorization, but are requested to mention the source and toinform ECLAC of such reproduction. Contents Introduction.........................................................................................................................................7I.United States trade................................................................................................................. 11A.U.S. trade with the world................................................................................................... 111.Trade in goods...........................................................................................................142.Trade in services ........................................................................................................19B.U.S. trade with Latin America and the Caribbean ..............................................................251.Trade in goods...........................................................................................................252.Trade in services ........................................................................................................30C.U.S. trade with China ........................................................................................................ 351.Trade in goods...........................................................................................................362.Trade in services ........................................................................................................39II.United States Trade relations with China...............................................................................41A.Chronology of escalating tensions between the United States and China .........................41III.Trade in the circular economy.................................................................................................45A.Circular economy initiatives in North America...................................................................451.Plastic pollution .........................................................................................................462.Food loss and waste (FLW) ........................................................................................463.Textiles and clothing .................................................................................................494.Metals and minerals .................................................................................................. 515.Energy generation and storage.................................................................................. 53B.United States trade in circular economy goods .................................................................56IV.United States Mexico Canada Trade Agreement (USMCA)’s Rapid Response Mechanism(RRM)...................................................................................