Mexican state in Trump firing line says U.S. investment holding up

6/8/2017 Reuters

nuevo_leonAmerican investment has stayed steady in a Mexican state that was one of the first to suffer at the hands of U.S. President Donald Trump’s drive to bring back jobs from Mexico, the region’s economy minister said on Thursday.

Just a few weeks after his election in November, Trump announced he had struck a deal to stop about 1,000 jobs at U.S. manufacturer Carrier from being moved to its Mexican operations in the industrial state of Nuevo Leon, which borders Texas.

Soon afterward, carmaker Ford canceled a planned $1.6 billion plant in central Mexico, causing widespread alarm that Trump’s interventions and threats to tear up the NAFTA trade agreement would lead to a collapse in investment in Mexico.

But Fernando Turner, the economy minister of Nuevo Leon, said U.S. companies still were committed to the state and that there had been no slowdown in investment by them because they understand the benefits of Mexico better than Trump does.

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