Tariffs will not affect the industry, says Index

Published: 2019-07-10
Tariffs will not affect the industry, says Index

TIJUANA – The new threat given by U.S. President Donald Trump to increase tariffs on Mexican steel is not affecting the industry at the moment, according to Luis Manuel Hernández, president of Index, coastal zone.

“Any increase affects the industry, final consumption, and competitiveness; the question is that even with this tariff it is cheaper to make the product here than in the United States; we have to see it from that angle,” said Hernández.

He affirmed that they have six months to analyze whether or not it affects the new measure that the government of the United States seeks to implement, but reiterated that even with this new tariff the costs are lower in Mexican territory.

It should be noted that the president of the United States also announced tariffs on Mexican steel two months after lifting the steel and aluminum tariffs of Mexico and Canada.

Source: El Sol de Tijuana