Claus von Wobeser, president of the International Chamber of Commerce Mexico (ICCMEX), said that the US tariffs and aluminum are destructive, since they directly affect the pocket of consumers in that country.
“I believe that tariffs are definitely destructive and we already saw the effects they have had,” without being applied in general to Mexican and Canadian exports, he said at the end of the presentation of the Banorte Housing Price indicator.
“The main affected with the collection of tariffs is the workers’ pocket and that is where the main effect is seen,” he added.
“When the consumer and the people on foot and on the street suffer the effects in their pocket. That’s when the president will see that there is an effect of tariff policy, ”he said.
“If people in the United States have a decrease in their standard of living, because you have to pay greater prices of products and that is dangerous,” he said.
The businessman does not believe in tariffs, since they are mechanisms used by President Trump to put pressure on his commercial partners in order to curb drug trafficking and migration.
He indicated that Trump has felt the consequences of the tariff war with the fall of the shares of companies and the indexes of the Standard & Poor’s 500 and the Nasdaq.
Lee: US Chief of Commerce says that nothing will stop the tariffs to the metals and add to copper
He added that the stock market is responding to all the uncertainty open by the president of the United States with the collection of tariffs.
“I believe in free trade and I don’t think tariffs have never been positive,” he said.
“Historically, the collection of export and import tariffs have not worked,” he said.
He affirmed that the collection of tariffs is a pressure tool, but has not allocated the effects desired by Trump.
“Pauses are already damaging the United States economy, even as an immediate reflection is the share market and markets do not have mercy and are definitely the ones that react and it has been a negative reaction,” he said.
Claus von Wobeser said that hopefully the president of the United States replace his strategy in the collection of tariffs to his commercial partners such as Mexico and Canada.
Lee: Sheinbaum will wait until April 2 to decide whether it applies measures against Trump tariffs to aluminum and steel
“The collection of tariffs are not sustainable in the long term for the United States economy and I do not see it as a long -term problem, because President Donald Trump will not work,” he said.
“Financial and stock markets have all the force to force Donald Trump backward to their tariff policy,” he said.
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