During his first week back in office, Trump confirmed that February 1 was the target date for implementing a 10% tariff on imports from China and a 25% tariff on goods from Canada and Mexico.
Those in industrial CRE are keeping up with foreign exchange issues and the current strength of the dollar, which can be as important as monitoring interest rates. Understanding manufacturing and the global flow of goods means having a grasp of how the relative dominance of a given currency can affect who can afford to make products based on their location.
According to Newmark’s National Industrial Market Conditions and Trends Report, there will be continued resilience but on a muted scale for industrial assets in 2024. Unpredictability in the global supply chain will drive long-term demand for industrial space due to the need for diversified sourcing and ports of entry,