Trump's Tariffs Threaten North American Economic Stability, Trade Group Warns

The Confederation of National Chambers of Commerce, Services and Tourism (CONCANACO SERVYTUR) has warned that tariffs imposed by U.S. President Donald Trump risk the economic stability of the entire North American region. The organization stated that these measures would not only affect the Mexican economy but also U.S. consumers and businesses. The U.S.-Mexico-Canada Agreement (USMCA) includes chapters that promote trade in services, investment, and digital commerce. CONCANACO noted that companies with investments in Mexico contribute to the U.S. treasury, strengthening the U.S. economy. Trump announced three executive orders to impose tariffs, intending to pressure Mexico on migration and security issues. These tariffs could lead to increased consumer prices for goods like automobiles, electronics, and food, disrupt the production and distribution of essential goods, exacerbate the U.S. trade deficit, cause inflation, and result in job losses. Approximately 12 million U.S. jobs depend on trade with Mexico and Canada, and 14% of formal jobs rely on export manufacturing. There is also a risk of trade war, a potential 12% drop in exports, and a 4.4% decrease in GDP. CONCANACO called for strengthened diplomatic dialogue and the promotion of trade strategies.