The construction industry in Tijuana will feel the imposition of tariffs in the coming months, said the president of the Mexican Companies of the State Construction Industry (Comice TTR), Victor Gabriel Gonzalez Mendivil.
He acknowledged that the situation of uncertainty that has been generated around the application of taxes on Mexican import products has already brought adverse effects to the economy of local companies.
First, he said that there has been uncertainty among investors, which has caused projects that have participation of construction companies to be on “stand by”, that is, stopped.
The president of Comice TTR, Gonzalez Mendivil, explained that a large part of these works were related to the industrial environment, which he recalled is also usually generated by other types of construction.
He explained that by stopping industrial development, the possibility of triggering commercial, residential and mixed constructions is also limited, the same ones in which Tijuana construction companies could have had participation.
He stressed that the construction industry has been dealing with several devaluations and operating declines, which has forced entrepreneurs to be more strategic with their participation in construction projects.
He pointed out that construction companies have registered a drop of up to 30% in their income due to the halt of projects, general inflation, and the rise in the cost of inputs and labor.