Mexico, U.S. plan pitch by early 2023 to lure corporations from overseas By Reuters

MEXICO CITY (Reuters) – Mexican Financial system Minister Raquel Buenrostro and U.S. Secretary of Commerce Gina Raimondo on Friday agreed to set out a plan by early 2023 for the relocation of corporations from Asia to North America, Mexico’s authorities mentioned.

On her first go to to Washington since taking workplace in October, Buenrostro has this week met senior U.S. officers to debate joint commerce issues, in addition to efforts to draw companies from Asia.

Buenrostro’s ministry mentioned she and Raimondo on Friday talked about boosting provide chains, specifically for printed circuit boards and semiconductors, and agreed on how essential power, meals and nationwide safety are for financial growth.

In a press release, the ministry mentioned the 2 will work to place ahead a joint presentation through the first two months of 2023 for the personal sector concerning the financial and financial advantages their international locations are providing corporations to relocate.

This summer time, the U.S. authorities authorized laws referred to as the Chips Act that can present greater than $52 billion to spice up semiconductor manufacturing capability in america.

On Thursday, Buenrostro mentioned efforts to resolve a bilateral spat over Mexico’s power insurance policies with U.S. Commerce Consultant Katherine Tai. Tai additionally confused the significance of avoiding disruptions in U.S. corn exports to Mexico.