The Mexican economy is affected by the warnings of tariff imposition made by the Republican presidential candidate in the United States, Donald Trump, just two weeks before the elections in that country. This impact is especially evident at the border, where the exchange rate has significantly increased.
The Mexican peso recently closed at 19.98 units per dollar, reaching one of its lowest levels of the year and experiencing a depreciation of nearly 3% compared to the previous week. In border cities like Ciudad Juárez, exchange rates of 20 pesos per dollar are already being observed in exchange houses.
The president of the Border Business Block, Thor Salayandía, has expressed his concern about the possibility of a 100% tariff being imposed on cars manufactured in Mexico, which would affect the entire value chain of the country, including both automakers and national companies that supply the automotive industry.
Salayandía emphasized that these measures could jeopardize thousands of jobs in the automotive sector, especially in the northern border region, where hundreds of companies and more than 180,000 families directly depend on the manufacturing of cars and auto parts. At the national level, more than 1.2 million workers are employed in this industry.
The impact of Trump's statements is already being felt in investments, with the maquiladora industry in Ciudad Juárez experiencing a pause in its operations. This city, one of Mexico's main industrial centers, would be particularly affected given its dependence on exports to the United States.
According to the IMSS, in the border states of Baja California, Sonora, Coahuila, Chihuahua, Tamaulipas, and Nuevo León, more than half a million employees are linked to the automotive sector. The uncertainty generated by Trump's protectionist statements has raised concerns in the business sector about a possible loss of jobs on a large scale.
Mexico's president, Claudia Sheinbaum, acknowledged the impact of the protectionist measures on the local economy and the Mexican peso, but assured that the Treaty between Mexico, the United States, and Canada (T-MEC) is not in danger, despite Trump's threats to renegotiate it if re-elected.
