A protectionist stance from the US looms large as a policy concern for Latin America, where many countries have chosen a growth model based on increased integration with the rest of the world. What should Latin America’s response be? What are the alternative forms of trade integration and markets creation that the region should explore? What is the role for monetary, fiscal and financial policies? What are the mistakes of the past to be avoided? These are among the key and timely issues that the Latin American Committee on Macroeconomics and Financial Issues (CLAAF) will address.