Fitch Ratings warns of potential fallout from the U.S. elections, predicting a rise in trade protectionism that could impact Mexico, China, and Canada. These countries, accounting for over 40% of U.S. imports, are vulnerable to stricter protectionist measures.
Both Mexico and Canada heavily rely on the U.S. market, with 80% of their goods exports going there. In contrast, China, while only 3% of its GDP reliant on U.S. exports, remains exposed due to its industries.
Industries at risk include machinery and electrical equipment from China, crude oil from Canada, and electrical products and vehicles from Mexico. Additionally, European Union exports to the U.S. in machinery, pharmaceuticals, and vehicles also face potential impact.
The looming threat of increased protectionism underscores the need for cautious monitoring by global policymakers and business leaders. These changes could have a significant impact on international trade dynamics and global economies, emphasizing the interconnected nature of markets.
Fitch: Mexico, Canada, China Face Trade Risks After U.S. Elections
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