Walmart to invest billions in Mexico despite US tariff threat

Walmart's Mexico main said caller store openings could make astir 5,500 jobs. Photo: Julio Cesar AGUILAR / AFP
Source: AFP

US retail elephantine Walmart said Thursday that it would put much than $6 cardinal successful Mexico this year, contempt President Donald Trump's escalating commercialized wars with Washington's partners and competitors alike.

Appearing astatine Mexican President Claudia Sheinbaum's greeting quality conference, the company's state caput Ignacio Caride said that caller store openings would make astir 5,500 jobs successful the Latin American country.

"Walmart arrived successful Mexico much than 65 years ago, and we volition beryllium present for the adjacent 30, 60, oregon 90 years," helium said.

Seeking to easiness concerns astir the outlook for the Mexican economy successful the look of Trump's tariff threats, Sheinbaum has invited respective institution executives to look alongside her to contiguous their concern plans.

E-commerce behemoth Amazon, its determination rival Mercado Libre, streaming elephantine Netflix and Spain's biggest slope Santander are among the overseas firms that person announced large investments successful caller months.

Speaking a time aft Trump announced a 25 percent tariff connected each cars that are not made successful the United States, Sheinbaum said that the duties were contrary to a North American escaped commercialized deal.

"Of course, determination should beryllium nary tariffs wrong the United States-Mexico-Canada commercialized agreement. That is the essence of the commercialized agreement," she said.

Sheinbaum has repeatedly expressed optimism that US tariffs connected Mexican goods tin beryllium averted, and Trump has doubly granted Mexico tariff relief, which is owed to expire successful aboriginal April.

Source: AFP