*
      Latam stocks down 1.5%, FX off 0.6%


        *
      Mexican peso hits over three-week low


        *
      Brazil real set for first weekly loss in four



 (Updates with late afternoon trading)
    By Shashwat Chauhan and Lisa Pauline Mattackal
       March 28 (Reuters) - Most Latin American currencies and
stocks lost ground on Friday and were headed to their biggest
weekly losses since last month, as risk sentiment remained weak
after U.S. President Donald Trump's latest volley of tariffs.
    MSCI's index tracking the region's currencies
 dropped 0.6%. The Latin American equity index
 dipped 1.5%, on track for a near 2% drop for the
week.
    Both the stocks and currency index were at two-week lows.
    Risk sentiment remained shaky through the week after Trump
imposed a 25% tariff on imported cars and light trucks starting
on April 3.
    Adding another layer of uncertainty to global trade, U.S.
data showed underlying price pressures increasing by the most in
13 months in February, likely keeping the Federal Reserve
cautious on rate cuts.
    The focus is now on U.S. reciprocal tariffs due to be
announced on Wednesday. Trump, however, indicated that the
measures may not be the like-for-like levies he has been vowing
to impose.
    Latin American stocks and currencies remain set for solid
monthly gains, aided by a global rotation out of U.S. equities
and a broadly softer greenback.
    Broader indexes tracking global emerging market stocks
 and currencies are also on track for
monthly gains.
    "Markets are still pricing somewhat benign commentary or
tariffs," said Joan Enric Domene, chief LatAm economist at
Oxford Economics.
    "Given some time, some concessions, some room for hope that
there is still a deal (on tariffs) to be made, we can still see
that over-performance of some assets in the EM world," Domene
said.
    Mexico's peso, among the region's most
tariff-sensitive currencies, fell 0.6% to an over three-week
low. Data showed the country's seasonally adjusted unemployment
rate was 2.7% in February.
    Brazil's real weakened 0.3%, down for a third
straight day and on pace to snap a three-week winning streak.
    Data showed unemployment in Latin America's biggest economy
rose in the quarter through February, matching expectations from
economists polled by Reuters. Meanwhile, federal public debt
rose 3.3%.
    Chile's peso dropped 1.8% as copper prices fell ahead
of next week's tariff deadline. The CEO of Codelco, the world's
largest copper producer, said it had been redirecting some of
its spot sales to the U.S.
    Brazil's Bovespa  dropped 0.7%. The Argentinian
benchmark slid 1.4%, leading losses among regional
indexes.
    The International Monetary Fund confirmed that the program
it is discussing with Argentina was requested to be for $20
billion, as announced by the Argentine government, and that it
would be an Extended Fund Facility.

    HIGHLIGHTS
** Chile copper miner Codelco swings to profit in 2024
** Ukraine says mineral deal not final; summary shows US demands
more income
** Mexico announces second-quarter auctions for government debt

    Key Latin American stock indexes and currencies:

 Equities                    Latest     Daily %
                                        change
 MSCI Emerging Markets         1120.06      -0.93

 MSCI LatAm                    2086.26      -1.50
 Brazil Bovespa               132156.6      -0.75
 Mexico IPC                   53149.82      -0.61
 Chile IPSA                    7694.49       0.53
 Argentina Merval            2378324.4       -1.4
 Colombia COLCAP               1603.63       0.17

 Currencies                  Latest     Daily %
                                        change
 Brazil real                    5.7589      -0.24
 Mexico peso                   20.4175      -0.59
 Chile peso                      950.5      -1.84
 Colombia peso                  4197.5      -0.58
 Peru sol                        3.657      -0.49
 Argentina peso (interbank)     1070.5  0.1401214
                                               39
 Argentina peso (parallel)        1280     1.5625




 (Reporting by Shashwat Chauhan in Bengaluru; Editing by
Alistair Bell and Rod Nickel)