GM invests millions in Mexico while Trump bashes Ford

10/17/2016 The Detroit News

After more than a year of watching Republican presidential candidate Donald Trump bash Ford Motor Co. for moving jobs to Mexico, General Motors Co. has pushed ahead with its own expansion. It just hasn’t said as much as Ford.

GM is advancing on an $800 million investment for its global small-car lineup that includes a factory retooling in San Luis Potosi state. That plant and another facility in Mexico will also build the all-new Chevy Equinox sport-utility vehicle next year, people familiar with the matter said.

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Debunking Trump: We Have Moved Jobs To Ohio From Mexico, Not The Other Way, Ford Says

03/10/16 Forbes

us mex flagContrary to Donald Trump’s claims that “thousands” of Ford (NYSE:F) jobs are leaving Ohio, the Dearborn-based automaker has actually moved production from Mexico to Ohio, a key a battleground state, a company spokesperson said.

“Nope. In fact, we insourced production of F650 and 750 [trucks and tractors] from Mexico TO Ohio,” Christin Baker, spokesperson for Ford told me when asked about Trump’s allegations.

From 2000 to 2014, the F-650 and F-750 were manufactured in Mexico. But in 2014, production shifted to Avon Lake, Ohio.

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Why Are We Threatening Millions Of U.S. Jobs Without Debating The Facts?

09/30/16 Forbes

map_16540601_02fdd26a2504707fd2b96d6199050ce7784e5bc1Trade with Mexico supports some 4.9 million U.S. jobs, according to a new project by the Woodrow Wilson Center’s Mexico Institute. We should be seriously thinking about the millions of U.S. jobs supported by trade with our southern neighbor while weighing the wisdom of calls for imposing 35% tariffs on Mexico, blocking remittances to Mexico from workers in the United States, and abrogating our trade agreement with America’s second largest customer.

The United States sells more to Mexico than any other country in the world except Canada.  We trade more than one million dollars a minute with Mexico.  Some 57,000 U.S. companies, large and small, participate in that trade.

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US Treasury Head Touts Trade, Security in Mexico Visit

9/29/16 ABC News

untitledU.S. Treasury Secretary Jacob Lew made a strong pitch for the Trans-Pacific Partnership trade pact during a visit to Mexico on Thursday. Lew strongly defended globalization, but acknowledged that “some industries, towns, and workers” in both the U.S. and Mexico “are feeling the stress of this change.”

Mexico was seen as a beneficiary of the 1994 North American Free Trade Agreement, and the pact has become an issue in this year’s U.S. presidential campaign. Lew acknowledged a lot of people still have to be won over, saying, “We must win the argument, one that is supported by the facts, that fair trade will grow both of our economies.”

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Goldman Sachs Says Bigger Surplus in Mexico May Win Over Traders

09/07/16 Bloomberg

luis videgarayBanks including Goldman Sachs Group Inc. and Bank of America Corp. say Mexico can do more to shore up its finances.

Mexico Finance Minister Luis Videgaray is scheduled to go to the lower house of Congress on Thursday to present the nation’s 2017 budget proposal. The plan may call for a so-called primary budget surplus that’s equal to about 0.2 percent of gross domestic product, based on a preliminary estimate from the government earlier this year. But Mexico may be more ambitious, says Goldman Sachs’s Alberto Ramos.

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Mexico: slower and lower

08/30/16 The Financial Times 

PenaNietoMexico, that most stable and reliable of emerging markets, may be sliding towards a credit rating downgrade. Last week S&P Global Ratings revised its outlook to negative from stable and warned it saw a one-in-three chance of a ratings cut in the next two years due to substandard growth and rising sovereign borrowings.

That caught up with Moody’s, which had lowered its own outlook back in March. And while Fitch, the third of the big three rating agencies, still sees Mexico’s rating as stable, it too warned in July of risks regarding the economy and fiscal consolidation.

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Mexico’s Carstens warns on protectionism

08/29/16 Financial Times 

Agustin_CarstensProtectionist trends in leading economies are threatening the world’s already laggardly growth potential, the head of Mexico’s central bank has warned.

Agustín Carstens, the governor of the Bank of Mexico, said that anti-globalisation demands were not confined to the US, where Donald Trump has been vowing to rip up trade deals, but were visible across a range of G20 countries.

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