Rio South Texas Region analyzes economic impact of tariff policy

During the quarterly meeting of the Council for the Economic Progress of South Texas (COSTEP), experts, business leaders, and representatives from the educational sector gathered to assess the current economic landscape and the potential impact of imposing tariffs on Mexican imports to the United States.

The event featured Dr. Daniel Covarrubias, an international trade expert from Texas A&M University, who discussed the challenges that trade between the two countries would face if a 25% tariff were implemented.

Covarrubias emphasized that such measures could lead to the loss of 4.3 million jobs across 15 states in the United States. He also pointed out the need to revise the United States-Mexico-Canada Agreement (USMCA) to transform it into a comprehensive cooperation framework that addresses not only trade but also migration and security.

"Uncertainty is what impacts the economy the most, even more than the potential tariffs," Covarrubias stated, underscoring the difficulty of establishing concrete strategies due to the constant changes in trade policy.

Meanwhile, Adam González, CEO of COSTEP, highlighted the importance of having expert insights to tackle economic challenges. He also encouraged business owners to participate in these forums to strengthen their business networks and contribute to regional development.

"There are many perspectives on this issue, and it’s crucial to understand all angles. That’s why we prefer to hold these forums in person—to foster networking and create business opportunities," González explained.

The meeting was attended by entrepreneurs, economists, and representatives from business chambers on both sides of the border, who agreed on the need to continue promoting the Rio South Texas Region as a strategic destination for new investments.