British shopper items large Unilever mentioned Friday that it will make investments $1.5 billion in Mexico, which is wooing overseas corporations within the face of US President Donald Trump’s commerce battle.
“This investment will create 1,200 new direct and indirect jobs in Mexico,” Unilever’s chief provide chain and operations officer Willem Uijen mentioned at President Claudia Sheinbaum’s day by day information convention.
The announcement follows different main funding pledges by firm executives invited to seem on stage with Sheinbaum on the presidential palace.
“It means they see a positive and promising future for Mexico,” Economic system Minister Marcelo Ebrard mentioned.
In March, US retail large Walmart mentioned that it will make investments greater than $6 billion in Mexico this yr, producing a number of thousand jobs.
E-commerce behemoth Amazon, its regional rival Mercado Libre, streaming large Netflix and Spain’s largest financial institution Santander are among the many different overseas corporations which have introduced main investments.
Trump has introduced numerous tariffs focusing on the Latin American nation, and backtracked on a few of them.
Whereas he left Mexico off the record of countries going through his steep “reciprocal tariffs,” its carmakers in addition to metal and aluminum exporters nonetheless face duties.
Trump desires to scale back commerce deficits with Mexico and different international locations which his administration accuses of “unfair” commerce practices.
Sheinbaum spoke with Trump by cellphone on Thursday and mentioned she had agreed to work towards bettering the commerce steadiness between the 2 nations.
This story was initially featured on Fortune.com
