EDINBURG, Texas - The Rio Grande Valley Hispanic Chamber of Commerce and UT-Rio Grande Valley’s Center for Border Economic Studies are to host a webinar roundtable discussion on tariffs.
The event, titled “Trade Wars on the Horizon: What Could Happen Next?” takes place on Thursday, March 20, at 12:00 noon.
The discussion will feature three economists at the Center for Border Economic Studies: Salvador Contreras, Maroula Khraiche, and Jean-Baptiste Tondji. The Center for Border Economic Studies is housed in the Robert C. Vackar College of Business & Entrepreneurship.
Khraiche, Tondji, and Armando Lopez-Velasco wrote about tariffs in their most recent "Border Business Briefs" document. They wrote: "The current US administration has positioned tariffs as a central tool of economic and political leverage. While tariffs can counteract unfair trade practices, their indiscriminate application poses significant economic risks, potentially destabilizing not only the US economy but also key trade partners like Mexico and Canada. These nations, heavily reliant on trade with the US, would face severe economic repercussions under an extensive tariff regime."
The moderator of the webinar roundtable discussion will be Cynthia Sakulenzki, president and CEO of the RGV Hispanic Chamber of Commerce.
“With the current U.S. administration leveraging tariffs as a key economic and political tool, what ripple effects can we expect? Industry experts will analyze potential outcomes, opportunities, and risks for businesses in the border region and beyond,” Sakulenzki said.
“So, please join us for an exclusive roundtable discussion on the future of trade policies and their impact on international and regional business.”
Sakulenzki added: D”on't miss this insightful discussion on how trade policies could shape the future.”
Editor’s Note: Click here to register for the webinar.
Meanwhile, McAllen Chamber of Commerce and McAllen Economic Development Corporation are jointly gauging reaction to potential tariffs. The two organizations have launched a survey and they particularly want to hear from business leaders involved in international trade.
“With the 25% tariffs on imports from Mexico and Canada now in effect, we are closely monitoring how this will impact McAllen’s economy. As a key hub for international trade, manufacturing, retail, and tourism, our businesses depend on strong cross-border commerce,” the McAllen Chamber states.
Elizabeth Suarez, who heads the McAllen Chamber and McAllen EDC, appeared on KURV NewsTalk 710 Radio on March 19 to promote the survey.
“The more work we do with industry and with main street business… it's clear that one of the key roles for both the chamber and the EDC is advocacy and really understanding how federal and state programming affects us, and so we are doing all that we can to hear firsthand from our industry and from our small business community,” Suarez told KURV.
“So, we've created a really simple survey. You can go onto our website, but it's real important that we hear back from you, and so essentially, what we want to do is collect this data and be able to speak to it when we're meeting with our legislators, both in DC and in Austin.
“It's real important to hear firsthand from you all. What is the anticipated impact? And what is the type of support that you're looking for from our legislative community?”
Suarez said the survey has been running for about a week and that the chamber and the EDC have so far received 40 responses
“I’d like to have at least 200 to give us a good random sampling for the different industry types. That would give us a better understanding of what that expected impact is going to be.”
KURV morning show host Sergio Sanchez asked what the survey shows, at this initial stage.
“On the housing side, we're hearing a potential impact to overall cost. We are looking at maybe $15,000 per house increase,” Suarez responded. “They (house builders) are thinking they're going to have to eat that cost. It's just such a competitive market right now in housing.”
Suarez pointed out that a lot of lumber comes from Canada while steel comes from Canada and Mexico.
“Those are some expected impacts. I know (the) auto (industry) has talked about those impacts as well. Without diving into the exact details of the survey, I think, generally speaking, there's a consensus that overall cost is going up,” Suarez said.
“I think that there are some expected costs that will be absorbed by some of the industries, but I think (some costs) will be passed down to consumers.”
Editor’s Note: Click here to participate in the McAllen Chamber/McAllen EDC survey.
