Next president of the United States Donald Trump talked about closing the economy, either to international trade or to migration.
That certainly would not be good for Costa Rica since in the last 30 years, the country has largely emerged due to exports, especially in that market, which is our main trading partner,
stated the Costa Rican Union Of Chambers and Associations of the Private Business Sector (UCCAEP).
Franco Pacheco, president of UCCAEP, represents the feelings of many Costa Rican businessmen, who mistrust trade policies promoted by Trump during his campaign.
Costa Rica receives a lot of US Foreign Direct Investment (FDI), and any limitations, tax incentive policy or US firms with business in other countries, affect the local economy,
declared Pacheco in an official statement released on November 9th.
To Costa Rica, Trump’s trade policies’ implications may be decisive, because the US is one of the main destinations for exports policies.
According to official data, 40% of Costa Rican exports go to the American market and 40% of imports come from that country.
On the other hand, 52% of the FDI that Costa Rica receives is provided by US companies.