Texas businesses bracing for a financial hit from U. S.- Mexico-Canada trade limbo
· KRGV (NBC 5)
Texas businesses are facing uncertainty as the U.S. renegotiates the United States-Mexico-Canada Agreement (USMCA). With Mexico and Canada as Texas' top trading partners, the state's economy heavily relies on smooth trade relations. In 2024, Texas-Mexico trade reached $281.2 billion, while Texas-Canada trade was $69.2 billion. The imposition of tariffs by President Trump on Mexican and Canadian imports has raised concerns among manufacturers, particularly in the automotive sector. Companies like Air Tractor, which depend on tariff-free imports, fear significant job losses and price increases if the USMCA is not renewed. The situation remains precarious for many Texas industries.
AI summary · Source: KRGV (NBC 5) →
