Over the past few years we’ve seen the same cycle play out many times. Threatening tweet leads to market hysteria, leads to harried impact analysis. Sometimes action follows, sometimes not. Regardless of the actual outcome, since 2016 it feels like we have all dedicated significant portions of our lives to following what the potential fallout from the trade war du jour might be.
Perhaps there is no country with which this drama has been more noticeable than with Mexico. Repeated swipes at NAFTA (now USMCA for those keeping score at home), followed by retaliatory steel and aluminum tariffs, and of late the potential for tariffs tied to inaction on immigration, have become seemingly commonplace. Agricultural products play a key role in trade between the US and Mexico (for more details see our earlier blog on the subject). And as such, it is not surprising that they have been a dominant topic during trade discussions. But amid all the commotion, an unlikely figure has really taken center stage…Read More