The effects of Mexico's devaluations and tariff changes on U.S. exports |
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| Institution: | 1. Institute of Electromagnetics and Acoustics and Key Laboratory of Electromagnetic Wave Science and Detection Technology, Xiamen University, Xiamen, 361005, China;2. Department of Urology, The First Affiliated Hospital of Xiamen University, Xiamen 361003, China;3. Analysis and Measurement Center, School of Pharmaceutical Science, Xiamen University, Xiamen, 361003, China;1. University of Georgia, Athens, GA, United States;2. University of California, Davis, CA, United States;1. Chemistry Department, College of Science, Al Muthanna University, Iraq;2. Chemistry Department, College of Science, Al-Nahrain University, Iraq;3. Nanotechnology & Catalysis Research Centre (NANOCAT), Institute of Graduate Studies, University of Malaya, 50603 Kuala Lumpur, Malaysia |
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| Abstract: | The recent economic crisis in Mexico has been accompanied by several devaluations of the peso and a change in Mexico's tariff schedule. With Mexico being the third largest trading partner of the U.S. any serious disruption of this trade flow could significantly affect U.S. exports. This article presents estimates of the decline in U.S. exports in total and by industry. In total, the decline amounts to approximately $4.5 billion or a reduction in U.S. exports to Mexico of 31 percent. In addition, it is shown that approximately 40 percent of this total reduction in U.S. exports occurs in 15 product categories with 4 product categories accounting for about one-fifth of the total reduction. As is evident, only a few industries will bear a large percentage of the decline in U.S. exports to Mexico. |
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