Mexico's economy ministry, in an apparent reference to US President-elect Donald Trump, rejected on Friday any threats made to deter companies from investing in the country.
Trump threatened this week to slap import tariffs on US automaker General Motors for importing cars it makes in Mexico and Japan's Toyota for planning a new factory in the southern neighbor.
Ford also announced that it was canceling a $1.6 billion new factory in the northern state of San Luis Potosi, which had been criticized by Trump, though the company said the decision was business-related.
Without mentioning Trump or any government, the economy ministry said in a statement that it "categorically rejects any attempt to influence the investment decisions of companies on the basis of fear or threats."
Trump has vowed to renegotiate the North American Free Trade Agreement (NAFTA) with Mexico and Canada as well as impose tariffs on companies that ship jobs out of the United States.
"The investments that are made in Mexico, the United States and Canada benefit the three countries thanks to the integration of our chains of production," the economy ministry said.
This, the statement said, does not cause "the loss of jobs for any of the participating countries."
Mexico’s economy ministry, in an apparent reference to US President-elect Donald Trump, rejected on Friday any threats made to deter companies from investing in the country.
Trump threatened this week to slap import tariffs on US automaker General Motors for importing cars it makes in Mexico and Japan’s Toyota for planning a new factory in the southern neighbor.
Ford also announced that it was canceling a $1.6 billion new factory in the northern state of San Luis Potosi, which had been criticized by Trump, though the company said the decision was business-related.
Without mentioning Trump or any government, the economy ministry said in a statement that it “categorically rejects any attempt to influence the investment decisions of companies on the basis of fear or threats.”
Trump has vowed to renegotiate the North American Free Trade Agreement (NAFTA) with Mexico and Canada as well as impose tariffs on companies that ship jobs out of the United States.
“The investments that are made in Mexico, the United States and Canada benefit the three countries thanks to the integration of our chains of production,” the economy ministry said.
This, the statement said, does not cause “the loss of jobs for any of the participating countries.”
