The data point: Constellation Brands expects to take a $20 million hit this fiscal year due to the Trump administration’s aluminum tariffs, CFO Garth Hankinson said on the company’s earnings call. Our take: Constellation Brands is one of the few companies openly acknowledging the real-time impact of the administration’s policies. With both hardline deportation rhetoric and tariffs hitting at once, the company faces a dual challenge that could weigh heavily on its performance throughout the year.

Latin America’s ad market will surpass $40 billion this year as it continues to defy economic uncertainty. Rebounds in Argentina and Chile, along with double-digit growth in retail and social media spending, will fuel momentum. Here are the latest trends you need to know.

The news: Brazil’s central bank rolled out a recurring payments feature to the Pix instant payment system, according to a report from Reuters. Our take: Pix’s use likely can keep growing steadily if it can target new volume opportunities.

The news: Brazil’s Supreme Court ruled that social media platforms must be held accountable for illegal user-generated content (UGC), marking a major shift in digital regulation, per Reuters. Six of 11 justices backed fines for non-removal, putting the pressure on platforms to police their content. The decision to place accountability on platform owners could undermine the business and advertising strategies of Meta, YouTube, X, and TikTok. Key takeaway: When governments crack down on platforms, ad environments change fast. If Brazil’s ruling becomes the norm, social platforms may shift from open forums to tightly controlled spaces—risking user engagement, discoverability, algorithmic reach, and ad effectiveness.