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Mexico’s President Condemns Aggression on Gaza, Calls for Recognition of Palestine
(www.palestinechronicle.com)
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this post was submitted on 13 Oct 2024
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biden told mexico not to extend tax benefits for chinese near shore manufacturing for EV's to protect american companies and that's exactly what the mexico did last month; to the detriment of all mexicans.
TIL that not subsidizing foreign companies is bad for mexico!
It was not "biden order" or "US pressure" that led to these policies, it is completely consistent with the current nationalist goverment. It's the same reason why Tesla doesn't build their factory in Mexico, they're not getting concessions like they used to before this goverment. And BYD is going to build their factory regardless (https://www.elfinanciero.com.mx/empresas/2024/09/03/byd-desmiente-pausa-en-construccion-de-planta-en-mexico-tendra-los-mas-altos-estandares-tecnologicos/), so it's a W in my book. 🧏 🤫
caving to american influence to prevent jobs for mexicans is bad for mexico; but they're chinese companies so it might be a wash anyways.
also it was very much american pressure that make nearshoring more difficult for the chinese companies; but some, like byd, have no choice but to expand anyways or die.
here's a article describing how the mexican government gave into to the biden administration's pressure: https://arstechnica.com/cars/2024/04/chinese-ev-makers-wont-get-subsidies-from-mexico-after-us-pressure/