Author: Lillian Perlmutter
Published on: 02/04/2025 | 00:00:00
AI Summary:
Thor Salayandia owns and operates a factory in Juarez, Mexico. He ships truckloads of metal tubes to warehouses in the US state of Texas for assembly. On March 26, Trump announced new 25 percent tariffs on cars and car parts manufactured abroad that will go into effect on April 3. Trump announced that goods counted under the USMCA would be exempt from the tariffs until April 2. This would leave half of imports safe from tariffs for another month. Mexican politicians have been quick to point out that the Mexican peso has remained fairly stable. But that could take many months to complete. In the US, five million jobs are at stake if these tariffs go into effect, Bustamante says. He says specialty and luxury vehicles with uncommon parts will be those most affected by the current tariffs, as well as those made with steel or aluminium. If Trump implements the tariffs on April 3, Mexico will respond with counter-tariffs. Mexico sends more than two billion pounds of avocados every year to the US. The tariffs could push prices up for the popular fruit as avocado growers rush to make sure their orchards comply with T-MEC regulations. Such a scenario would push the Mexican economy into a recession, while the US economy would face price hikes.
Original: 1154 words
Summary: 216 words
Percent reduction: 81.28%
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