U.S. to lose competitiveness if it stops getting supplies from Mexico
- Category: Mundo Ejecutivo
Joseph Stiglitz, a U.S. economist who was awarded the Nobel Prize in Economy in 2001, warned that the U.S. industry will loose competitiveness if it stops getting supplies from Mexico and other countries. "There will be no more job creation… without those imported low-cost pieces, vehicles manufactured in the U.S. will be more expensive", explained Stiglitz. "...The industrial jobs kept so, would be in direct competence with those in low-cost countries, which would collapse salaries", warned Stiglitz about the negative consequences of Trump's plan.