When I sat to write this month’s point of view, I had many ideas that float in my head. However, given the fact that this date coincided with the deadline on March 4 of President Trump’s definitions to enter into force on Mexico, Canada and China, I could not think about a more time at the appropriate time to cover this liberation. Since the Trump administration took office, this is still a fluid situation. However, I think it is important to think about what these definitions may mean in the electrical industry.
It was implemented on March 4 by President Trump as a measure to address combat security concerns/martial drug smuggling and trade balance (in an attempt to revitalize American manufacturing and reduce the trade deficit), the United States imposed 25 % offer on most goods from Mexico and Canada (where power exports from Canada face 10 % of the tariff), and an increase of 10 % of goods on Chinese goods 20 %. The mutual tariff will start on other countries on April 2. To clarify the way for many “a trade war”, global tensions are certainly increasing because goods from China, Mexico and Canada represent more than 40 % of imports in the United States in 2024; These three countries are also the first three export markets for our country.
What does all this mean? Certainly, I am not an economic expert, but based on the source you cite, you will find that the situation is characterized by everything from the means to protect American interests and the level of the stadium, revitalize local industries, protect American jobs to economic suicide that will inevitably lead to increased inflation, high interest rates, increased consumer costs, and increased costs of constant printing in the market. According to Reuters, executive and economic chiefs say that Trump’s tariff for Canada and Mexico, which covers more than $ 900 billion in American imports, will deal with a serious setback for the very integrated North American economy. “
Whether this will happen – and to what extent – it has not yet been seen. How the new trade policies will affect the electrical construction market in terms of material prices (such as copper wires and the availability of electrical equipment such as electrical panels, keys and transformers, for example, the National Association of Electrical Contractors (NECA) sent an alert to its membership in early February, to summarize the immediate risks that such definitions can pose, in addition to providing strategies that the stakeholders must adopt to reduce the risks In EcMWB.com/55267362, the National Association of Electricity (NEMA) issued a statement on March 5 from Dibra Philips, President and CEO, encouraging a long -term deal that enhances trade throughout North America. American energy and ensuring a safe and flexible network – investing tens of billions of dollars in American manufacturing and creating thousands of new jobs for American workers throughout the country. “The new trade policies must provide the ability to predict and certainly for future local local investments, providing a reasonable transitional period for a new transition on the Internet and the supply corridors to move.”
As of the time of the press (a few days after President Trump’s speech to Congress, in which he admitted that the customs tariff may cause “minor disturbance”), the President gave the car manufacturers to exempt one month from the United States and Kanta Convention (USMCA) in Mexico (as of March 5) on vehicles that comply with the United States and Telenda Agreement (USMCA). On March 6, he also announced a one -month tariff in all products from Mexico and Canada covered under USMCA until April 2. Given the number of times the customs tariff has changed in the past three days alone, by the time when the publication of the publication of the hands of readers or digital versions across the Internet, things could have changed several times. After trying to cover this urgent news story, I can only wonder whether this is really related to definitions.
Whatever the agreement that is reached in the end of the accurate percentage of the duties collected, the extensions of the deadline, the exemptions, or the specified goods, the general chaos and instability that this atmosphere creates – not to mention the uncertainty in many of the vertical markets that our audience serves – at least, must affect the electrical professionals somewhat when it comes to planning business, The economic chain predicts. As this story continues to be revealed, you can bet on the EC & M will bring you the latest updates and analyzes.
