Influence of Populism on International Trade Policies in Latin America

Abstract

Purpose: The aim of the study was to assess the influence of populism on international trade policies in Latin America.

Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.

Findings: The study found that populism has significantly influenced international trade policies by promoting a shift toward protectionist measures. As populist leaders prioritize domestic industries and workers, there is often a push to re-evaluate existing trade agreements and relationships. This trend frequently involves imposing tariffs and trade barriers, which aim to shield local economies from perceived external threats. Additionally, populist rhetoric typically frames international trade as a zero-sum game, fostering nationalism and economic isolationism. Ultimately, the rise of populism disrupts established trade norms and compels policymakers to critically assess the socio-economic impacts of globalization, often at the expense of broader international cooperation.

Implications to Theory, Practice and Policy:  Political economy of populism, dependency theory and constructivist theory may be used to anchor future studies on assessing the influence of populism on international trade policies in Latin America. Policymakers should focus on developing balanced trade policies that protect local industries while fostering international relations. Governments must adopt adaptive trade policies that include provisions for safeguarding vulnerable sectors without extreme protectionism. Establishing monitoring and evaluation systems for trade policies will allow for timely adjustments in response to populist pressures.