The Mexican peso appreciated against the US dollar on March 11 and 12, gaining 0.51% and 0.39% respectively, amid the implementation of tariffs on steel and aluminum by US President Donald Trump. The peso reached its strongest level since late 2024, closing at 20.0951 units per dollar on March 13. Earlier in the week, it was trading at 20.17 units, 20.57 units, and 20.69 units at different points. In Brazil, the Ibovespa index rose 1.43% to 125,637 points on March 13, driven by gains in Vale and CSN shares. The Brazilian real also saw a slight appreciation against the dollar, which closed at R$5.79, down 0.19%. Earlier in the day, the dollar was trading at R$5.80 and R$5.81, with the Ibovespa also reaching 123,866 points. The Chilean stock market also performed well, with the IPSA index surpassing 7,400 points for the first time, reaching 7,450 points, amid a global market environment affected by trade tensions. In Argentina, the stock market rebounded with the S&P Merval index gaining 5.3% on March 12, closing at 2,272,937 points, despite ongoing international trade concerns.