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OPINION: NMexus change to change economic development in NM
Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday June 5, 2025 Canada's steel industry faces turmoil as Trump's tariffs and unresolved steel dumping issues challenge North American trade relations. A Steel Trap for North America The recent hike in steel and aluminum tariffs by President Trump has sparked a heated debate, with the move likely to cause significant economic pain on both sides of the Canada-U.S. border. While there's no denying that steel dumping is a problem that needs addressing, the root of the issue doesn't lie in Canada. Instead, it's countries like China and South Korea that have been flooding the markets with cheap steel, creating unfair competition. Canada has tried to tackle this, imposing tariffs on Chinese steel, but the response has been slow and insufficient. Ottawa must act more decisively to protect its industries and work in concert with the U.S. to address these challenges. However, the way forward should not involve undermining free trade agreements like the USMCA, which have long supported economic cooperation between the two nations. News: Trump hikes steel and aluminum tariffs to 50% https://www.theglobeandmail.com/world/article-trump-steel-aluminum-tariffs-increase/#comments For Canada, the increased tariffs threaten to cripple industries and lead to job losses, particularly in steel-dependent regions. Meanwhile, American consumers are likely to face higher prices as manufacturers pass on the increased costs. This could have a ripple effect on various sectors, from automotive to construction. Politically, these tariffs could serve as a means for President Trump to generate revenue to fund tax cuts that largely benefit the wealthy. In this scenario, the rich gain while everyday consumers and workers bear the brunt of the economic fallout. The solution lies in a collaborative approach that targets the real culprits of steel dumping without resorting to damaging protectionist measures. Both Canada and the U.S. need to engage in meaningful dialogue and develop strategies that uphold fair trade and economic stability for all involved. Tariffs, Steel, map, north america, ladle, Donald Trump, Aluminum, Canada, USA, Trade, Economy, USMCA, Industry, Imports, Protectionism
When I first heard about NMexus, New Mexico’s new economic initiative to attract global leaders and entrepreneurs, my first thought was, “This could be brilliant for our economic future.”
New Mexico is home to exceptional minds, vibrant cultures and expansive landscapes. And yet, we’ve struggled to build an economy that includes and uplifts all of the people who live here. We’ve relied heavily on oil, federal dollars, taxing small businesses, and boosts from cannabis and tourism.
NMexus has the opportunity to be different. It’s a chance to reshape New Mexico’s role in the world where innovation, equity and sustainability meet.
It reminds me of Pittsburgh, Pennsylvania — a city I spent a lot of time in growing up in the 1980s and 90s. Pittsburgh was still recovering from the collapse of the steel industry. The economy was hollowed out, and the future looked grim. But in the decades that followed, the city rebuilt itself around technology, health care and education. The transition wasn’t perfect, but it showed what’s possible when a region invests in its people and future.
But I’ve seen the other side, too. I grew up in Wheeling, West Virginia, where fracking was seen as the answer to the economic hardship of a post-coal state. Companies arrived with promises: revitalization, job growth and renewal. What actually happened was the land was stripped, communities were exploited, and profits benefited big business that left the state and gave nothing to its people. The hope was real, but the outcome was devastating.
That’s why NMexus must be done right. For this initiative to succeed, it can’t just be about luring companies with incentives. It has to be rooted in New Mexico’s people, and that means tying it to our schools and universities, building infrastructure that supports everyone, and making sure the jobs created stay in the state and benefit local workers, not just imported talent or short-term contractors.
We have a chance here not just to attract innovation, but to grow it from the inside out. That means long-term thinking, planning and a commitment to making sure the gains are shared here, in this state. Otherwise, we risk repeating the story of West Virginia — of being used, drained and forgotten.
New Mexico is too special for that. If we get this right, NMexus could be the start of something transformative where we expand just like our skies, and start building a future that matches the grit, brilliance and beauty of the people who live here.
Let’s hope we take the wise path.
