Financial Times 2017: Chill wind blows through Mexico’s industrial powerhouse

As published in Financial Times

Northern business capital of Monterrey assesses its future without a US trade deal

It was not the grand spectacle typical of the launch of a multimillion-dollar plant. But in
Monterrey, Mexico’s northern industrial capital, it was significant that American metal-stamping
company Trans-Matic held an event in the Donald Trump (

“I want to congratulate you on a gutsy move,” said Sergio Argüelles, chief executive of FINSA, a
Mexican developer that owns the surrounding industrial park. “They did it because we all know
projects like this benefit both our countries. You cannot flip the switch on the US-Mexico
relationship from one day to the next,” he told the FT.

The new plant is relatively small: $12m invested with 55 full-time employees. But Trans-Matic is
still sticking its neck out given that President Trump, who has called the North American Free
Trade Agreement ( (Nafta)
“the worst trade deal ever” and sworn to end it, has publicly shamed US companies that
manufacture abroad as being unpatriotic.

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