As the USMCA rolls out, in Arizona much of the focus will be on how it impacts trade at its ports of entry. Mexico remains the state’s largest importer of goods and trade supports thousands of jobs on both sides of the border. As we heard from international trade adviser Luis Ramirez, while the pandemic caused some disruptions, investors remain optimistic about the region.
In spring, the vast majority of Nogales, Sonora’s manufacturing workforce were sent home, according to Ramirez. “Gradually, that has been coming back. As manufacturing facilities are implementing most protocols, we’re seeing tremendous excitement with the reopening of the current manufacturing sector,” Ramirez said.
According to Ramirez, manufacturers in northern Mexico are seeing an increased interest from investors, with Canadian companies also paying more attention to the region.
“You’re now starting to see Canadian companies invest in Arizona to then start looking at the Mexican market,” Ramirez said. “It truly is their leveraging of what USMCA has to offer through Arizona.”