The impact of tariffs imposed by US President Donald Trump "has been less than expected" in Latin America, the head of the region's development bank told AFP in an interview.

Dozens of economies worldwide were hit by US customs duties as part of Trump's push for reciprocal tariffs against what he considers unfair trade practices.

Some economists have warned the measures could slow global trade due to the increased export costs to the world's largest economy.

But "when you look at the year from January to date, the impact has been less than expected," said Sergio Diaz-Granados, president of the Development Bank of Latin America and the Caribbean (CAF), in an interview on Friday.

"Obviously, it caused a lot of turbulence at the beginning, but the outlook is becoming increasingly clearer.

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