Querétaro’s Trade Reliance on the United States
Querétaro, Qro. The recent trade agreement between Mexico and the United States regarding tariffs has provided relief for Querétaro’s commerce sector, according to René Loya Poletti, the interim president of the Cámara de Comercio de Querétaro.
Loya Poletti, an influential business figure in Querétaro, expressed that this situation allows the sector to remain active and productive. He added that the U.S. government’s stance indicates a lack of urgency to alter the current trade conditions with Mexico.
“This is a positive outcome because it suggests that the United States is not eager to change the rules of the game in its current trade discussions with Mexico. This gives us, the business owners, a breather to continue working and producing for Querétaro,” Loya Poletti stated.
He also highlighted the favorable behavior of the exchange rate, with the Mexican peso’s appreciation following the announcement made by both governments on Thursday, July 31.
This optimistic outlook comes after a challenging first half for local trade, with businesses in the tertiary sector reporting difficulties due to extended credit periods agreed upon with industrial clients. In some cases, payment terms have stretched from 30 to 180 days.
On Thursday, Mexico’s President Claudia Sheinbaum Pardo confirmed an agreement with U.S. President Donald Trump to postpone for 90 days the potential imposition of a 30% tariff on Mexican products. Both parties agreed to maintain current tariffs and protect the Mexico-U.S.-Canada Trade Agreement (T-MEC).
Querétaro’s Trade Dynamics
Similar to the nation, the United States is Querétaro’s primary trade partner, serving as both a major export destination and the main source of foreign direct investment.
In 2024, Querétaro’s exports to the United States totaled $13,369 million, accounting for 80.5% of the overall exports, according to data from Mexico’s Secretaría de Economía (SE).
Among the traded products, 39.7% are automotive vehicle parts and accessories; 7.8% correspond to turbojets, turbopropulsores, and other gas turbines; 5.9% are refrigerators, freezers, and similar equipment.
With lesser contributions, Querétaro also exports machinery, tires, plastic articles, tomatoes, glass containers, and more to the U.S. market.
Key Questions and Answers
- Who is René Loya Poletti? René Loya Poletti is the interim president of the Cámara de Comercio de Querétaro, a prominent business organization in Querétaro, Mexico.
- What is the significance of the recent US-Mexico trade agreement? The agreement has alleviated concerns about tariff increases, allowing Querétaro’s commerce sector to remain active and productive.
- What percentage of Querétaro’s exports go to the United States? Approximately 80.5% of Querétaro’s exports are destined for the United States.
- What products does Querétaro mainly export to the US? Key exports include automotive vehicle parts and accessories, turbojets, refrigerators, and other related equipment.
