This paper is divided into five sections. The first section analyzes the link between economic integration in the Americas and the hegemonic power that the US exerts on the region through the FTAA initiative. The second section addresses the change in Latin American economic policies, taking into account the different role that US hegemony has played in the region. The third section analyzes how trade structures shape the different Latin American positions in the FTAA. The fourth section addresses when and how anti-Americanism re-appeared in Latin America during the 1990s. The fifth section delineates possible future scenarios with regard to US hegemonic intentions in the region and the potential reactions to those policies.