Industry leaders in Juárez, Mexico, are raising concerns over the recent reviews of the United States-Mexico-Canada Agreement (USMCA), as it will start new reviews every year until it ends in 2036.
Impact on Local Economy
Marcelo Vázquez Tovar, regional delegate in Chihuahua for the National Association of Importers and Exporters of the Mexican Republic (ANIERM), shared his perspective on the challenges and opportunities this scenario presents for the local and national economy.
Vázquez Tovar said Mexico faces challenges and opportunities due to a possible non-renewal of trade agreements by the United States. In response, Mexico has an opportunity to transition toward producing its own components for the maquiladora industry, aiming to reduce dependence on external supplies.
Despite potential trade shifts, Ciudad Juárez’s economy is expected to maintain its dynamism due to its robust productive capacity. The city’s labor market is anticipated to undergo readjustment processes, similar to those experienced in other regions of Mexico.
To address this scenario, collaboration among various chambers of commerce, associations, and the government is vital. This partnership will provide firsthand information to support ANIERM members in developing new components and establishing specialized workshops.
Original reporting: El Paso News (HLL/CB) — read the source article.
