Overview of the Situation
Dafne Viramontes, president of the Colegio de Economistas de Aguascalientes, warned that Aguascalientes’ exporting companies could face a $4.3 billion annual loss if the US confirms a 30% tariff on Mexican products, set to take effect August 1st. This is part of US President Donald Trump’s aggressive trade policy, which includes a 25% tariff on Mexican car, steel, and aluminum imports.
Impact on Key Sectors
The automotive and agricultural sectors in Aguascalientes have been significantly affected. In 2024, Aguascalientes ranked 13th among Mexican exporting entities, contributing $14.3 billion to the national total. The automotive sector, a cornerstone of the local economy, saw an 18.7% annual decline in export sales.
Agricultural Threat
The 17.09% tariff on tomatoes, effective July 14th, directly impacts Aguascalientes’ producers. As the eighth-largest tomato producer nationally, with an annual production of 52,013 tons, the new tariffs impose estimated additional annual costs of $14 million, threatening their competitiveness.
Current State and Recommendations
In the first quarter of 2023, Aguascalientes’ exports dropped by 17%, equivalent to $661 million, before any tariffs were applied. Viramontes emphasized the growing uncertainty affecting employment, investment, and regional development.
She recommended supporting local economies by purchasing locally produced goods, such as Mexican-assembled cars over imports. Additionally, she called for a comprehensive policy plan, including market diversification, financial support for affected sectors, and regional value chain development.
Key Questions and Answers
- What is the estimated annual loss for Aguascalientes’ exporters due to US tariffs? $4.3 billion
- Which sectors are most affected by the tariffs in Aguascalientes? Automotive and agricultural sectors
- What is the impact of the 17.09% tariff on tomatoes for Aguascalientes’ producers? Additional annual costs of $14 million, threatening competitiveness
- What recommendations does Dafne Viramontes provide to mitigate the effects of tariffs? Support local industries, diversify markets, and develop regional value chains
