Analysts believe that the automotive sector in Nuevo León (NL) could be affected by Donald Trump's policies, but Coparmex Nuevo León stated that during Trump's first term, exports of transportation equipment from the entity performed better than under Joe Biden's administration.
According to an analysis by the business organization, based on data from Inegi, between the first quarter of 2017 and the second quarter of 2020, the accumulated value of transportation equipment exports in Nuevo León grew by 59.2% compared to the previous period.
Cecilia Carrillo López, director of Coparmex Nuevo León, emphasized the importance for Mexican companies to maintain and increase their competitiveness and productivity to be key suppliers in the U.S. market. She highlighted the need for internal conditions such as the rule of law, certainty in labor and tax regulations, public safety, and skilled labor.
The director also mentioned that diplomatic relations between Mexico and the United States are fundamental for fostering trade and highlighted the benefits of the USMCA for both countries.
During the current Biden administration, the accumulated value of transportation equipment exports in Nuevo León has experienced a 3% drop compared to the same period during Trump's term.
The Coparmex analysis indicated that in the first three years of Trump's presidency, the value of total exports from Nuevo León grew at a faster rate than during the same period under Biden's presidency. Total exports from Nuevo León increased by 31.5% between 2017 and 2019.
Exports of transportation equipment in NL represent approximately 35% of total exports, followed by exports of electrical appliances and electricity generation equipment at 17.44%, and exports of machinery and equipment manufacturing at 12.5%.
