The escalating trade tensions between the United States and China are creating unprecedented opportunities for Latin American economies, according to Marcos Galperin, CEO and founder of MercadoLibre, often dubbed the “Amazon of Latin America.” Speaking at the LatAm Tech Forum in Miami, Argentina’s wealthiest individual with an estimated fortune of $8.7 billion, believes the region is uniquely positioned to capitalize on what he describes as a “permanent shift” in global trade dynamics.
Galperin’s optimism isn’t unfounded. His company’s stock has surged nearly 30% this year while Amazon has declined 15%, reflecting broader market confidence in Latin American tech companies amid global trade uncertainty. The CEO argues that the era where “everything was manufactured in China, consumed in the US, and China bought T-bills to finance that dynamic is kind of over.” This fundamental restructuring of international commerce presents what Galperin calls a “very big opportunity for Latin America in general, and Mexico in particular.”
The trade war’s impact extends beyond manufacturing, with American companies already relocating production from China and other Asian nations to Mexico, taking advantage of the country’s free trade agreement with the US. Mexico’s strategic position allows certain imports to avoid tariffs as high as 25%, while China faces staggering 145% tariffs on its goods. This shift represents more than temporary market adjustments—it signals a long-term realignment of global supply chains that could permanently benefit Latin American economies willing to “play their cards right.”
Mexico Emerges as the Primary Beneficiary
Mexico stands at the forefront of this trade transformation, with its population of 110-120 million people and existing free trade agreement with the United States positioning it as an ideal manufacturing hub. The country has already benefited from nearshoring trends, with numerous American manufacturers moving operations closer to US markets over recent years.
Galperin emphasizes that Mexico’s advantages extend beyond geographical proximity. The country’s established trade relationship with the US provides stability that manufacturers seek when relocating from volatile international markets. This positioning allows Mexico to capture manufacturing jobs and investment that might otherwise remain in Asia, creating a sustainable competitive advantage in the new trade.
MercadoLibre’s Strategic Position in the New Trade Era
As Latin America’s most valuable company by market capitalization at over $110 billion, MercadoLibre exemplifies the region’s growing economic strength. The company’s success story—growing from an $18 IPO in 2007 to approximately $2,100 per share—demonstrates the long-term potential Galperin sees in Latin American markets.
The company’s dual focus on e-commerce and fintech services provides exposure to the region’s most dynamic growth sectors. With over 100 million active users on its fintech platform and assets under management growing over 100% year-over-year, MercadoLibre is democratizing financial services across Latin America. This growth occurs despite—or perhaps because of—the company’s minimal US exposure, allowing it to benefit from regional opportunities without direct trade war impacts.
Long-term Implications for Global Trade
Galperin’s perspective on the trade war reflects broader structural changes in the global economy. He acknowledges that while transitions create pain and volatility, they also generate winners and losers in ways that can reshape entire regions. For Latin America, this represents a historic opportunity to increase its role in global manufacturing and trade networks, potentially reversing decades of economic dependence on commodity exports and creating more diversified, resilient economies positioned for sustained growth in an increasingly multipolar world.