SAN DIEGO (Border Report) — The ongoing uncertainty over tariffs implemented on Mexico has led to a 30% halt in construction investment in the city of Tijuana and Northern Baja California.
Víctor Gabriel González Mendivil, president of Mexican Construction Industry Committee, told a group of reporters on Wednesday that investors are taking a “standby” approach when it comes to the construction of warehouses, commercial space and other projects.
“There were projects ready to start but have been placed on hold, they’re waiting for the tariffs’ situation to clarify,” he said. “Construction for housing and other developments are also slowing down due to all the uncertainty.”
On Thursday morning, President Donald Trump announced another 30-day postponement of the tariffs on Mexico, specifically on imports that are covered under a North American trade agreement signed during his first term.
But the unpredictability is driving up the cost for construction materials, making investors even more leery, González Mendivil said.
“Everyone is being very conservative with their money from investors to contractors to those in the building industry, we need to eliminate the unknowns so projects and progress is not impacted any further.”
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