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-Editorial
After Donald Trump became the elected president of the United States, the main concern among business owners in Mexico is the potential imposition of tariffs on Mexican imports, so the primary recommendation is to stay well-informed.
This was stated by Lic. Enrique Hernández Pulido, partner at the San Diego-based firm Procopio, was a guest at the biweekly breakfast of the Baja California College of Public Accountants (CCPBC), chaired by Dr. Sergio Vázquez.
The expert explained that after an election, reforms are often undertaken, and it will be interesting to see where fiscal reform will head, stemming from Donald Trump’s campaign promises.
“At the time, he implemented a very important fiscal reform, but with a limited duration, so what we will see is that he will try to extend that reform. Another issue of interest is whether he will implement a policy to establish tariffs on Mexican imports, and what the effect on Mexico could be,” he pointed out.
The expert emphasized that the increase in tariffs was something Trump repeated often during his campaign, so he believes it is something that could happen, although the details, such as which products the tariffs will apply to, are still unknown.
“Remember that Trump takes office in January 2025, so between now and then, there will be a lot of information. Additionally, he has not yet appointed his economic cabinet, but once he does, we will have more clarity about where the fiscal policies are headed,” he mentioned.
What is certain, Enrique Hernández reiterated, is that an attempt to renew the reforms implemented during his previous term is expected.
“Every time there is an election, there are changes, and successful companies tend to react and plan accordingly. They are resilient, analyze the situation, and move forward. So, the key is to stay well-informed and be able to act to achieve good results,” he suggested.
For his part, Dr. Sergio Vázquez, president of the CCPBC, pointed out that the United States is Mexico’s main trading partner, making it crucial to invite experts to share their views on the economic and fiscal outlook.
“We will have to see what the economic trade agreements between both countries will be, because, at the moment, there is some nervousness over Trump’s statements, especially regarding tariffs. But we must be cautious,” he considered.
Finally, the leader emphasized the importance of accountants staying informed and providing sound advice to their clients, so they can make the right decisions at the right time.
