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Sheinbaum denies that Chinese automaker BYD has investment projects in Mexico
Thursday, November 28, 2024 - 11:30
Fuente: El Economista

The president stated this at her morning press conference on Thursday.

Mexican President Claudia Sheinbaum has said there is no firm investment project from a Chinese automotive company in the country, in response to criticism from its trading partners over the influx of capital from the Asian giant.

The president made this statement at her morning press conference on Thursday, in which she reiterated the priority of trade agreements with those countries with which there is a treaty, such as the United States and Mexico.

Sheinbaum thus responded to questions about possible investments by the Chinese automotive firm BYD in the country, which earlier this month said it was in contact with the government to finalize its plans in the Latin American nation.

"We have to see which one, under what circumstances," said the president, who has not closed the door to Chinese investment, which in recent days she has pointed out is not as large as her trading partners believe, with harsh criticism of the country.

Both the United States and Canada, with which Mexico shares a free trade agreement, have expressed doubts about the latter's role in the entry of Chinese investment into North America. Political representatives such as Ontario Premier Doug Ford have described Mexico as China's "back door."

Furthermore, this China issue is one of the reasons why Donald Trump, the future president of the United States, has announced that when he takes office he will impose 25% tariffs on Mexico and Canada.

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