Mexico has had it relatively difficult lately. Being that their sector has been depressed by the COVID-19. Tough news for AMIA especially.
After a disruptive year, Mexico’s light vehicle manufacturers hope to revive a sector depressed by the COVID-19 pandemic, as well as hampered by shortages of semiconductor components and energy for factories.
Some of the best opportunities for the industry’s recovery could come from U.S.-China trade tensions, along with changes initiated by the United States-Mexico-Canada Agreement (USMCA), said José Zozaya Délano, executive president of the Mexican Automotive Industry Association (AMIA).
“It is expected that during the administration of President Joe Biden, some of the imposed measures on Chinese technology platforms and products tariffs that led to a trade war during the Donald Trump term could be negotiated to strengthen their bilateral relations,” Zozaya Délano told FreightWaves.
“However, it is necessary to recognize this juncture as a window of opportunity for Mexico since this event has allowed the strengthening of the already close commercial relations between Mexico and the U.S. as strategic partners.”
Zozaya Délano said that the AMIA, along with other Mexican auto associations, is “confident that our country will be a much more attractive destination for foreign investments because of the regulations established by the USMCA.”