Can Latin America Be Great?

Following Donald Trump’s victory in the US Presidential elections, speculation abounds regarding how his administration will approach relations with Latin America. Some analysts predict a shift toward isolationism, marked by heightened tariffs and persistent demands for curbing migration and combating drug trafficking in exchange for basic diplomatic cordiality, although without significant innovation or proactive engagement. Others interpret the appointment of Marco Rubio as Secretary of State—the first Hispanic American to hold such a pivotal Cabinet role—as a signal of renewed recognition for a region that could gain strategic relevance in Trump’s vision of a stronger United States on the global stage.  

The Trump administration must understand that to truly “Make America Great Again,” the greatness of all the Americas is essential.

Speculation aside, it is evident that Latin America has yet to emerge as a priority on the new administration’s foreign policy agenda. However, this does not mean the region will be dismissed or relegated to the role of a problematic neighbor. On the contrary, Latin America represents the US’s best opportunity to champion near-shoring—a strategy that would relocate American investments closer to home, creating value-added supply chains within the hemisphere. Additionally, the region holds vast strategic energy reserves, abundant arable land, a burgeoning young workforce, and critical natural resources essential for combating the climate crisis. Harnessing these assets through greater regional integration could enhance opportunities and position Latin America as a strategic ally while differentiating it from regions entangled in geopolitical struggles, and countering the rising influence of countries like China and Russia.  

The Trump administration must understand that to truly “Make America Great Again,” the greatness of all the Americas is essential. A stronger, more prosperous United States is unlikely to thrive in a region plagued by drug trafficking, migration crises, institutional instability, democratic backsliding, devaluation, and fiscal fragility. Despite the appeal of isolationist rhetoric in some quarters, abandoning Latin America would risk making it a liability. This would undermine the very goals of prosperity and security championed by leaders like Ronald Reagan in the 1980s.  

The US is now the world’s second-largest Spanish-speaking country and home to the fastest-growing minority: the Latino community.

So, what should the US do? The answer lies in building a vision to “Make the Americas Great” through a clear, actionable agenda driven by figures like Marco Rubio as Secretary of State, alongside other key leaders such as former US Ambassador to Mexico Christopher Landau, National Security Advisor Mike Waltz, Special Envoy for Latin America Mauricio Claver-Carone, and Presidential Advisor Rick Grenell. This agenda should focus on five foundational pillars to prioritize liberty and hemispheric prosperity:

• A Region Free of Dictatorships by 2029. The Maduro regime in Venezuela remains the principal driver of mass migration across the hemisphere, while Cuba’s dictatorship serves as a haven and inspiration for regional authoritarian regimes in the region. This as Ortega’s regime in Nicaragua has transformed the country into a hub for drug trafficking and Russian intelligence operations in Central America. To address these challenges, the US must implement a robust strategy of targeted sanctions, diplomatic pressure, and support for pro-democracy movements. A fully democratic hemisphere by 2029 would represent a transformative and enduring legacy.  

• No Security, No Prosperity. Regional prosperity is impossible without security. The fight against drug trafficking, transnational organized crime, and illicit networks must be treated as a shared democratic value and a regional public good. This requires rejecting permissive policies such as Mexico’s “hugs, not bullets” approach, countering the erosion of anti-drug efforts in Colombia (which has seen record highs in coca cultivation), and dismantling criminal organizations like Venezuela’s “Aragua Train.” Effective strategies should include asset forfeiture, extradition of criminals to the US, and aerial drug crop fumigation campaigns supported by judicial oversight. A secure Latin America is essential for both regional and US national security.

• Near-Shoring as the Foundation for Win-Win Integration and the Prevention of Illegal Migration. Trump’s first administration underscored the strategic importance of near-shoring—relocating US investments from distant regions to the Americas. This policy safeguards critical supply chains and stimulates economic growth in neighboring countries, reducing the causes of mass migration by creating jobs and improving living conditions. Near-shoring, anchored in principles of democracy and security, is a logical step for ensuring the economic stability of the hemisphere while bolstering US national security.  

• Strengthening Hemispheric Institutions. Institutions such as the Organization of American States (OAS) and the Inter-American Development Bank (IDB) play a vital role in fostering regional stability. Yet, efforts by groups such as the São Paulo Forum aim to weaken the inter-American system while promoting alternatives like the Community of Latin American and Caribbean States (CELAC) and deepening ties with BRICS nations. To counter this trend, the US should prioritize modernizing the OAS, enhancing the IDB’s capital resources, and leveraging these institutions as key allies of the US Agency for International Development (USAID) and the Development Finance Corporation (DFC). A stronger inter-American system would reinforce the region’s democratic and economic frameworks.  

• Hispanic Heritage as an Asset. The US is now the world’s second-largest Spanish-speaking country and home to the fastest-growing minority: the Latino community. With their shared values of liberty, democracy, family, and hard work, Latinos represent a bridge between the US and the rest of the hemisphere. Their increasing influence—reflected in a record number of Hispanic elected officials—offers a unique opportunity to deepen cultural and economic ties across the Americas. Strengthening this shared heritage could enhance integration, from business to the arts, creating markets enriched by common traditions and values.

These pillars are clear and concrete. Of course, they are not the only ones, as synergies in environmental and energy matters, among others, are still missing.

In 2025, Donald J. Trump will attend the Summit of the Americas, which will take place in the Dominican Republic, where he will meet with his counterparts to define concrete actions. Arriving at this summit with an agenda focused on "making the Americas great" under a model of integration rooted in democracy, security, nearshoring, institutional strength, and the shared Hispanic heritage could pave the way toward shared and lasting prosperity. Even more importantly, it could leave an invaluable legacy: a region united by prosperity and freedom.

If the US Congress understands and supports this bipartisan and bicameral path, success will be assured. However, if isolationism prevails, it will be impossible to "Make America Great Again" in a hemisphere threatened by crime and authoritarian caudillismo.

Iván Duque Márquez served as President of Colombia from 2018-2022. He is a Wilson Center Distinguished Fellow and Chair of the Iván Duque Center for Prosperity and Freedom.

Cover photo: Protesters demonstrate against the official election results declaring President Nicolas Maduro's reelection in Valencia, Venezuela, Monday, July 29, 2024, the day after the vote. AP Photo/Jacinto Oliveros.