OBELA Analysis

President Trump's return to power means the return of anti-immigrant policies. Measures against the undocumented population will impact the amount of remittances sent to Latin American and Caribbean countries. ad. Remittances represent an important percentage of the region's International Reserves and GDP.

The year 2024 broke both land and ocean temperature records, being the warmest in 175 observable years and breaking the 1.5°C barrier set by the Paris Agreement to contain the devastating effects of climate change. All indications are that the trends of heat, pollution and extreme weather events will continue in 2025.

In 2024, the US announced a general increase from 7% to 25% and 100% for electric vehicles (EVs). It was followed by Canada, which imposed 100% tariffs on EVs, and Mexico, which eliminated EV exemptions and imposed a 25% tariff on steel. Subsequently, on April 3, 2025, Trump announced reciprocal tariffs on all countries, with a 10% base plus an additional country-specific percentage. This led to an escalation with China, for whom they have been set at over 100%. In this article, we will review the consequences of the trade war on the North American steel industry.