📉 The U.S. decision to impose tariffs on Mexican steel is sending shockwaves through the global market. According to Pablo Calderon Martinez, an associate professor of politics and international relations at Northeastern University, these tariffs could have significant long-term effects on Mexico's economy and beyond.
🌆 Mexico plays a crucial role by exporting processed steel products essential for construction. With tariffs in place, steel prices in the U.S. are expected to rise, leading to higher construction and housing costs. This doesn't just affect developers—it impacts everyday people looking for affordable housing.
🏭 Meanwhile, the U.S. steel industry is already grappling with labor shortages. The added pressure of higher demand, coupled with increased costs, could strain the industry further, potentially slowing down growth and innovation.
🔍 Stay tuned to amigonews.net for more insights on how international trade decisions shape our world!
Reference(s):
Expert: Tariffs on Mexican steel will have long-term economic impact
cgtn.com
