Tag Archives: Mexico

Talking trade: How past, present and future tariffs influence industrial real estate

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tariffs

Welcome to Episode 19 of Real Time, JLL Chicago’s industrial podcast. In this episode, the team is joined by the International Trade Association of Greater Chicago’s Executive Director Richard Paullin, an expert on tariffs and international trade. While the news is constantly changing, here are some highlights from our conversation:

  • Today’s tariffs have a ripple effect on tomorrow’s logistics, real estate and transportation sectors, which play a key role in moving goods in and out of the country.
  • From soybeans to corn, agriculture rules in Illinois; limitations on exports will impact facilities across the market, especially in the I-80 submarket.
  • Canada and Mexico, America’s two largest trading partners, buy more from the U.S. than our next 10 largest trading partners.
  • Labor remains a major challenge for manufacturers and distributors with changing immigration policies and employment below 4 percent.

Hosted by: Industrial market research experts George Cutro and Chad Buch


Listen to this podcast with the player above or click here.

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NAFTA’s unexpected impact on Illinois

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Representatives from Canada, Mexico and the U.S. recently entered into the fourth round of negotiations on the North American Free Trade Agreement. While interests are wide-ranging and competing, the major focus has been on “rules of origin,” which look at the location breakdown of where products are manufactured to determine trade statistics, procurement and preferential treatment.

As negotiations continue, the State of Illinois, its economy and its real estate could be affected in good, bad and surprising ways:

The singularity is near

NAFTA

While some argue that the U.S. has lost 350,000 manufacturing jobs since 1994 due to trade with Mexico, others note this decline started well before NAFTA began. Tracking employment against manufacturing output is the most telling, as we’re seeing a sharp increase in productivity, despite fewer jobs. The answer: Robots and automation are making U.S. manufacturing more efficient. It’s not “Westworld,” but maybe it’s not far off..

Illinois is increasingly exposed

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