Can Mexico turbocharge pandemic nearshoring by US firms?

Date: February 18, 2022

Source: Aljazeera

Mexico City, Mexico – The CEO of the United States Business Association of E-Commerce (USBAEC), Tayde Aburto, has a message for the Mexican government: Encourage more US firms to move businesses they have offshored to China and Southeast Asia closer to home.

“Some of our members have been successfully nearshoring to Mexico for several years,” Aburto told Al Jazeera. “About 5 percent of our members had taken up nearshoring prior to the pandemic.”

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Remittances to Mexico soar during Covid pandemic

Date: Jan. 26, 2022

Source: NBC News

COMACHUÉN, Mexico — Mexico’s remittances — the money Mexican immigrants in the U.S. and other countries send home to their relatives — have soared in the past two years, and are now expected to top $50 billion for the first time once 2021′s figures are added up. That would surpass almost all other sources of Mexico’s foreign income.

But as happy as the Mexican government is about the news — it calls the migrants “heroes” — the boom raises questions: Will Mexicans always have to emigrate? And is it sustainable, or just blip fueled in part by U.S. government pandemic support payments?

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Mexico president says pitched plan to curb import reliance at leaders summit

Source: Reuters

MEXICO CITY, Nov 22 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Monday he proposed a plan last week to boost investment in North America to reduce reliance on foreign imports in his talks with U.S. President Joe Biden and Canada’s Prime Minister Justin Trudeau.

During the summit in Washington, Lopez Obrador said if North America did not move to strengthen its economy, the region risked being left behind by China, and suggested Canada and the United States should make more use of migrant labor.

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Arizona-Mexico trade relationship continues to boost border economies

Border_USA_Mexico

12/02/19 – Chamber Business News

By Graham Bosch

Mexico is Arizona’s top trading partner, accounting for about 30 percent of the state’s exports to foreign markets, according to an extensive ongoing study by the Eller College of Management at the University of Arizona.

With that in mind, it’s no wonder that business leaders, trade experts and economists agree the cross-border relationship is of the utmost importance to Arizona when it comes to trade, manufacturing, education, safety, tourism and more.

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Telefonica teams up with AT&T in Mexico in new bid to take fight to Slim

cell phones 2

11/21/19 – Reuters

By Julia Love

Spanish telecoms giant Telefonica has struck a deal to use some of U.S. rival AT&T’s infrastructure in Mexico, a move analysts said would better position both to compete with the market’s juggernaut, billionaire Carlos Slim’s America Movil.

Under the agreement announced on Thursday, Telefonica will use AT&T’s wireless ‘last-mile’ equipment – the final link of telecom networks that delivers service to consumers through towers, antennas and fiber-optic cables.

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Parts with passports: how free trade drives GM’s engines

automobile car drive grass
Photo by Mike on Pexels.com

11/18/19 – Reuters

By Nick Carey

Long before the pistons for General Motors Co V-6 engines reach the U.S. No. 1 automaker’s Romulus, Michigan plant, they are seasoned international travelers.

Powdered aluminum from Tennessee is shipped to Pennsylvania and forged at high temperatures into connecting rods for the pistons, which are then sent to Canada to be shaped and polished. They are then shipped to Mexico for sub-assembly and finally the finished pistons are loaded onto trucks bound for Romulus to become part of a GM V-6 engine.

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U.S. House Speaker seeks to pass Mexico, Canada trade pact this year

pelosi

11/14/19 – Reuters

By Richard Cowan

U.S. House Speaker Nancy Pelosi on Thursday said a breakthrough in talks with the Trump administration on the trade pact with Mexico and Canada could be imminent and that she wanted to pass the deal by the end of the year.

“We are moving positively in terms of the U.S.-Mexico-Canada agreement. Again, it all comes down to … enforcement,” she told reporters at a news conference “I do believe that if we can get this to the place it needs to be, which is imminent, that this can be a template for future trade agreements.”

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Borderlands: Wait times in Laredo and San Diego are up; Trucker dies in fatal I-10 crash in San Antonio

white freight truck close up photography
Photo by Craig Adderley on Pexels.com

11/09/19 – Freight Waves

By Noi Mahoney

Holiday surge increases wait times at Laredo and San Diego border crossings

As the holiday season approaches, businesses across the United States have begun scrambling to ensure goods will arrive in time for Black Friday and Christmas.

The result has been increased wait times for commercial trucks crossimg the U.S.-Mexico border at ports of entry in Laredo and San Diego.

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Mexico’s auto production and exports drop sharply, battered by Ford

aerial view of parking lot
Photo by KML on Pexels.com

11/06/19 – Reuters

By Julia Love and Sharay Angulo

Mexico’s auto production and exports fell sharply in October compared with the same month last year as production from U.S. automaker Ford Motor Co ground to a halt, according to data from the national statistics agency INEGI.

Auto production declined 16.35%, while exports dropped 19.52%, the data showed.

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Pelosi: U.S. House close to approving trade deal with Mexico, Canada

pelosi

10/31/19 – Reuters

By Patricia Zengerle and Makini Brice, Lisa Lambert

The U.S. House of Representatives is still working toward approving a trade agreement President Donald Trump worked out with Canada and Mexico, Speaker Nancy Pelosi said on Thursday.

The House is on a “path to yes”, Pelosi said about ratifying the agreement, which was signed nearly a year ago, adding that her chamber’s inquiry into whether Trump should be impeached has “nothing to do” with its work on the agreement.

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