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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

December 12, 8722

What Does Lithium Mean for U.S.-Chile Economic Ties?

U.S. Treasury Secretary Janet Yellen discussed economic ties with Chilean Finance Minister Mario Marcel during a meeting earlier this year in Santiago. // File Photo: @SecYellen via X.

Q

  • U.S. Treasury Secretary Janet Yellen said in March that growing demand for lithium would significantly increase U.S. imports from Chile over the next several years. Following meetings with President Gabriel Boric and Economy Minister Mario Marcel, Yellen told reporters that demand for clean energy alternatives may generate more than $3 trillion in global investment opportunities over the next 26 years and that deepening U.S.-Chilean economic ties would be key to achieving climate goals and U.S. energy security. How large a role will lithium play in Chile’s economic future and the nation’s relationship with the United States? What policies should Boric pursue in order to develop the lithium industry in Chile and what potential hurdles stand in his way? How will lithium play into Chile’s geopolitical significance for the United States and other major economic world powers?

A

M. Trinidad Castro C., executive director of the World Energy Council Chile: “Chile is blessed with natural resources and critical materials for the energy transition, such as abundant renewable energies (solar and wind) and minerals like lithium, copper and rare earths, among others. Lithium presents an important window of opportunity for our country, in the national lithium strategy that the Chilean government presented for the practical application of the industry and its derivatives. The relationship with developed countries such as the United States will be decisive to the extent that developing countries with characteristics similar to ours have…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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