Wednesday President Donald Trump announced a one month break on the 25% tariff on goods from Mexico put in place on Tuesday. NBC 5’s Vince Sims reports the back and forth is leaving some businesses worried about impacts on their costs and customers.
At Nogales Produce in Pleasant Grove, the warehouse is stacked with fresh produce.
That includes avocados, tomatoes, onions, jalapenos and more.
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WATCH HEREThe wholesaler serves north Texas and several border states to the east.
Word of tariffs on goods from Mexico is a big concern to Gibran Licuna.
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SIGN UP “Produce, grocery, and just to give you a number, it's over 50% of the products that come from Mexico,” Gibran Licuna with Nogales Produce said.
There is relief for at least the next month with President Trump halting the 25% tariff on goods from Mexico that comply with the North American Free Trade Agreement.
Still, Licuna said they have to be prepared for what will come after that. So, they are already trying to find vendors with the best prices.
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“So, try to get the better cost, the better price also for our customers,” Licuna said. “At the end, it's something that is going to affect everybody.”
Licuna said although they'll try to keep prices low, there will likely be an impact felt by customers.
“At the end, the final consumer is the one that is going to be more impacted on these changes,” Licuna said.
That will be tough. An economist with the Federal Reserve Bank of Dallas explained which customers will be impacted most.
“The segment of the population that suffer the most is the segment of the population with lower incomes, because that's the segment of the population that consumes more tradeable goods,” Federal Reserve Bank of Dallas economist Jesus Canas said.
Although Mexico's additional tariffs are on hold for now some are still unsure about the future.
“If this is going to last for the rest of the Trump mandate it's going to be really complicated,” Licuna said.
