Simulating the Impact of Tariffs on Latin American Economies

This contribution to the Informe de Economía Latinoamericana (page 18) uses the GTAP computable general equilibrium model to quantify the macroeconomic impact of tariff increases on Latin American economies. The exercise simulates effects on output, trade flows and sectoral activity across the region under alternative tariff scenarios, with particular attention to economies with strong commercial ties to the United States. The framework introduced here was subsequently extended in the S1 2026 box on Argentina to evaluate domestic trade-liberalization reforms.

Recommended citation: Banco de España (2024). Informe de Economía Latinoamericana. Segundo semestre de 2024.
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