Pablo Calderon Martinez, associate professor of politics and international relations at Northeastern University in the U.S., warns that the U.S. decision to impose tariffs on Mexican steel could have significant long-term effects on both Mexico's economy and the global market.
Mexico exports processed steel products essential for construction, and the tariffs are expected to drive up steel prices in the U.S., leading to higher construction and housing costs. Additionally, the U.S. steel industry, already constrained by labor shortages, may struggle to meet demand, exacerbating the economic impact.
This ripple effect could influence global markets, potentially affecting trade relationships and economic stability in regions connected to both the U.S. and Mexico. Businesses and investors are advised to monitor these developments closely as they navigate the evolving economic landscape.
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Expert: Tariffs on Mexican steel will have long-term economic impact
cgtn.com
