Mexico's Economy Minister Ebrard expects no turnaround on Trump's tariffs, Argentina's government sees the relationship with the US unchanged
Ebrard points to the president's tariff powers and considers changes to the T-MEC possible but still open, Buenos Aires calls the Republicans' defeat predictable.
On 4 November 2026, two governments in Latin America commented on the consequences of the congressional election for their relationship with Washington. The basis is projections according to which the Democrats win the Senate and the House of Representatives. There is no official final result yet. Neither expects a rapid change of course.
Mexico: tariffs remain the president's business. According to Infobae (21:50 CET), Economy Minister Marcelo Ebrard said at the InnovaFest event in Mérida that the election result changes nothing about the tariff powers, which lie to a large extent with the president. A new majority in Congress therefore does not automatically mean different tariffs. He does not expect major changes in the tariff negotiations. According to El Financiero, Ebrard pointed out that tariffs also hit US companies with supply chains in Mexico. On the review of the T-MEC free trade agreement (USMCA in the US), he said: “El tratado puede ser que sí cambie” (It may be that the agreement does change). But it is still too early for that, and no change has been proposed so far. According to El Financiero, the fourth round of negotiations had been postponed until after the election.
Argentina: result predictable, relationship remains. Unnamed sources from the presidential palace Casa Rosada said, according to the newspaper Los Andes, citing the broadcaster TN, that the Republicans' defeat had been expected because US presidents usually lose the midterm election. According to this, the government of President Javier Milei sees the relationship with the US as unchanged, Trump still has two years in office. For the markets, according to the report, it expects only a brief, temporary effect. No statement from Milei himself could be found as of about 22:30 CET.
These are the views of the respective governments. Earlier reactions from Mexico and other countries are under Reports, what the new Congress can do from January is in the timeline.