Trump wall doesn’t stop Siemens Mexico deal

Siemens has signed a cooperation agreement to expand investments across numerous enterprises in Mexico. As Ciara Lee reports, the German industrial group hasn’t been put off by Trump’s plans to build walls and impose border taxes.

(REUTERS/SIEMENS) – Putting pen to paper – and reaffirming commitment to Mexico for the next ten years.

German industrial firm Siemens plans to invest 200 million dollars and create a thousand new jobs.

The company wants to expand investments in areas including smart cities and digitalisation

As well as sustainability and electricity in the Latin American country.

SIEMENS CEO JOE KAESER, SAYING:

“We are committed to help Mexico in building its energy and infrastructure, we area committed to help Mexico in build out, an advanced manufacturing system because Mexico is one of the powerhouses of manufacturing in the world.”

But the powerhouse is under pressure.

With the construction of President Donald Trump’s proposed “wall” along the U.S.-Mexico border still on the cards.

SIEMENS CEO JOE KAESER, SAYING:

“As a German if you hear about building walls, this is more than just a political debate for us because we experienced that for a long time and also have seen the wall come, we have seen the wall go, so we’re very sensitive about separating communities and people by physical impact.”

The White House has floated the idea of imposing a 20 percent tax on goods from Mexico to pay for a wall.

Although aides have since said the tax is simply one of various measures being considered.

Trump has also threatened to scuttle the North American Free Trade Agreement, which includes Canada, if he cannot reshape it to benefit U.S. interests.

And that raises the risk of a major economic shock for Mexico.


Associated Links

  • Siemens
  • Business
  • Manufacturing
  • Economy
  • Siemens
  • Ciara
  • Tax
  • Donald Trump

  • Facebooktwittergoogle_plusredditpinterestlinkedinmail

    Leave a Reply