Background on Key Figures and Relevance
Marco Antonio Del Prete Tercero, the Secretary of Sustainable Development (SEDES) in Querétaro, is closely monitoring the potential tariff announcements by the United States on August 1st. His state, Querétaro, is part of a complex North American supply chain that has been shaped by the U.S.-Mexico-Canada Agreement (T-MEC). Del Prete Tercero, also the president of the Mexican Association of Development Economy Secretaries (AMSD), is hopeful that the U.S. will reconsider imposing tariffs on Mexican products and respect the existing trade agreement.
Potential Impact of Tariffs
Should the U.S. impose new tariffs on Mexican products, the consequences would be significant for Querétaro, Mexico, and other affected states. Del Prete Tercero emphasized that the impact would be “mayúsculo” (massive), affecting not just Querétaro but the entire nation. He expressed confidence in Mexico’s diplomatic efforts and the decision-making abilities of President Claudia Sheinbaum Pardo and her team.
Unilateral Decision and Limitations
Del Prete Tercero acknowledged that the potential tariff decision is unilateral and not driven by trade-related concerns. This limits the economic sector’s ability to react effectively. He clarified that if the issue were related to unfair competition, monopolistic practices, or dumping, there could be potential interventions. However, the current situation transcends mere commercial matters.
Anticipation and Economic Stability
René Loya Poletti, the interim president of Querétaro’s Chamber of Commerce, stated that the business sector is eagerly awaiting the U.S. government’s decision. He noted that Mexico’s economy shows stability, along with its export performance and currency exchange rate.
Export Growth Amidst Tariff Threats
Esaú Magallanes Alonso, Vice President of Large Companies at the National Chamber of the Transformation Industry (CANACINTRA), highlighted that Mexican exports grew by 10.6% in June—a figure that underscores the sector’s resilience against tariff threats initiated in January.
However, Magallanes Alonso warned that the potential implementation of 30% tariffs starting in August could jeopardize various industries. He urged stakeholders to strengthen unity, strategies, and dialogue between productive sectors and authorities.
Key Questions and Answers
- What is the main concern for Querétaro? The primary worry is the potential tariff measures from the United States, which could negatively impact Querétaro’s integrated North American supply chain and its economy.
- Who is Marco Antonio Del Prete Tercero? He is the Secretary of Sustainable Development (SEDES) in Querétaro and president of the Mexican Association of Development Economy Secretaries (AMSD).
- What is the U.S.-Mexico-Canada Agreement (T-MEC)? T-MEC is a trade agreement replacing the North American Free Trade Agreement (NAFTA) that aims to facilitate trade among Canada, Mexico, and the United States.
- What are the potential consequences of new tariffs? New tariffs could have a massive impact on Querétaro, Mexico, and other affected states, jeopardizing various industries and limiting the economic sector’s ability to react.
- How is Mexico’s economy faring? Despite tariff threats, Mexico’s economy demonstrates stability, supported by robust export performance and a steady currency exchange rate.
