Mexico’s states are turning to Asia and beyond as some U.S. companies put investment plans on hold south of the border following President Donald Trump’s calls to bring jobs back home.
A delegation of three Mexican state leaders, headed by the National Confederation of Governors (Conago), traveled to China this week to meet with business leaders and discuss investment opportunities.
“Conago is developing an agenda with China’s provinces to build investment projects in our country,” Conago tweeted on Wednesday. “China and Conago agree on building bridges for business, not walls.”
Fears of a hit to foreign investment ran high when Ford Motor Co (F.N) canceled a $1.6 billion plant in Mexico’s central state of San Luis Potosi in January.
Trump, who had railed against U.S. manufacturers investing in Mexico, hailed the decision as a major victory, but Ford put it down to declining demand for small cars.