RSS   Newsletter   Contact   Advertise with us

General Electric backs NAFTA and plans growth in Mexico

Staff Writer | May 15, 2017
General Electric CEO Jeff Immelt praised Mexico as a big part of its future growth and said the company is "very supportive" of the North American Free Trade Agreement (NAFTA) that U.S President Donald Trump has threatened to ditch.
Jeff Immelt
Trade   Immelt visited Mexico
The conglomerate is keen to double its purchases from Mexican suppliers next year, a statement from the office of Mexican President Enrique Pena Nieto said, a move that could upset Trump, who touts a "Buy American" policy and has railed against U.S. firms that move operations to Mexico.

Immelt, on a visit to Mexico, did not mention GE's interest in ramping up purchases in Mexico in a speech in the northern city of Monterrey, but he said Mexico was a big part of the company's future growth plans.

"We're optimistic about Mexico," Immelt told Mexican officials at the inauguration of an expansion of GE's operations in Monterrey. "We're very supportive of NAFTA."

Earlier this month, Immelt warned the Trump administration to avoid protectionist policies, while calling on it to level the playing field for U.S. companies with tax reform, revived export financing and improved trade agreements.