Chihuahua.- Local companies suffered the damage caused this year by the trade war between the United States and China, revealed the president of the Business Coordinating Council, Federico Baeza.
He said that due to said trade war, several of the exports that were sent to the Asian country by the American Union have been channeled to the Mexican market. The above, he explained, has meant an increase in imports of up to 34 percent in commodities, among other items. The business leader indicated that the national market is saturated by the goods of the producing companies of the United States.
We have many goods that have entered and that generate pressure on production in the country” Federico Baeza President of the Business Coordinating Council (CCE)
The price of the dollar, which has remained stably low, in a parity that affects local companies, since their products are more expensive for North Americans, explained businessman Federico Baeza.
Before the trade war between the two commercial powers, he added, the American Union sent 65 percent of its goods to China but now it is only 17 percent.
This situation motivates them to look for other markets such as the national one. “We have many merchandise that has entered and that generates pressure on production in the country,” he said.
Another of the most important factors for putting pressure on national exports is the price of the dollar, which has remained stably low, in a parity that affects local companies, since their products are more expensive in the North American market.
He explained that it has been a complicated year for the national company, in addition to the fact that it has barely been possible to recover from the effects of the pandemic generated by Covid 19.
According to specialized publications, commodities are products, raw materials and physical goods that form basic components of more complex products. Their relevance is such that economies and market prices move around them and are the cause of price confrontations to maintain control. of the markets
The business leader explained that throughout the year the local industry has had to overcome other situations such as the strict reviews that were imposed at border crossings, due to the immigration issue.
This news article has been translated from the original language to English by WorldsNewsNow.com.
You can visit the original source at the link below.
Original Source Link