### Elections in the U.S. and Reforms in Mexico Create Uncertainty for Businesses: Canacintra Tijuana
**By Julieta Aragón | August 5, 2024**
The upcoming November elections in the United States, coupled with the potential economic slowdown there and recent legal reforms in Mexico, are causing significant uncertainty for businesses, said Alejandro Jaramillo Osuna, President of the National Chamber of the Transformation Industry (Canacintra) in Tijuana.
Currently, the depreciation of the Mexican peso against the dollar is favorable for exporting businesses. A strong dollar can help offset the rising costs of labor and energy among other operational expenses.
“A strong dollar theoretically benefits the financial health of businesses. However, we need stability to operate effectively. The exchange rate hitting 20 pesos this morning is within the budgetary expectations of many businesses. But if volatility worsens, it will not be beneficial,” Jaramillo Osuna noted.
As of August 5, 2024, the Mexican peso has dropped by 1.26% against the previous closing, fluctuating between 19.12 and 20.04 pesos per U.S. dollar.
Jaramillo Osuna affirmed that the industrial sector will work with whoever won Mexico’s recent June elections and whoever wins in the U.S. elections.
In a press conference, the President of Canacintra Tijuana announced the upcoming 8th Industrial Meeting DIMBC, scheduled for August 21 at the Baja California Convention Center starting at 8:00 am.
Socorro Ruiz, Director of the Directory of the Maquiladora Industry of Baja California (DIMBC), emphasized that the meeting is a crucial platform for fostering growth and collaboration between the manufacturing industry and its suppliers to establish strong and mutually valuable commercial relationships.
“The second main feature includes a series of conferences with renowned experts discussing crucial industry topics. We will have a panel on successful regional cases from Cali Baja, a talk on the semiconductor industry, the benefits of becoming a certified supplier, and the importance of human talent management for the future, among other subjects,” she added.
The 24th edition of this event will feature around 150 exhibitors, including a pavilion from the Secretariat of Economy and Innovation, which will provide information on training and support for micro, small, and medium-sized enterprises (MiPyMES).
—
### Additional News Updates on U.S. Elections and Mexican Reforms
**Potential Impact of U.S. Elections on Mexico**
As the November elections in the U.S. draw closer, business leaders in Mexico express concerns over potential shifts in trade policies that could impact the bilateral trade relationship. Analysts suggest that changes in the political landscape could lead to renegotiations of existing trade agreements.
**Recent Legal Reforms in Mexico and Their Impacts**
The Mexican government has recently enacted a series of legal reforms impacting various sectors, including labor laws and environmental regulations. These changes are intended to modernize the legal framework but have generated concerns among business communities regarding compliance costs and operational adjustments.
**Collaborative Efforts Between U.S. and Mexican Industries**
Despite the uncertainties, there are ongoing efforts to strengthen the relationship between U.S. and Mexican industries. Joint ventures and cross-border collaborations are being promoted as strategies to mitigate risks and leverage competitive advantages.
Stay updated with TJGringo.com for more news and insights on these pivotal topics.