U.S. Touts Mexico Investments, Testing Nationalist Policies
New manufacturers creating semiconductors, clean automobiles, and other items in the U.S. should seek to Mexico for raw materials and assembly
Secretary of State Antony J. Blinken and Commerce Secretary Gina Raimondo met with President Andrés Manuel López Obrador and other high-ranking Mexican officials on the economic relationship.
They discussed how the countries could capitalise on newly passed legislation that will direct tens of billions of dollars of new investments
toward U.S. semiconductor and green technology facilities in the coming years.
Economists believe Mexico is losing out on billions of dollars in possible foreign investment as corporations migrate outside China and East Asia due to pandemic supply chain concerns.
Foreign corporations, especially American ones, are seeking for near-shoring prospects like Mexico to transfer manufacturing closer to home.