Unilever, a prominent British consumer goods company, announced on Friday its plan to invest $1.5 billion in Mexico. This decision comes as the country seeks to attract foreign businesses amidst trade tensions instigated by U.S. President Donald Trump.
Willem Uijen, Unilever’s Chief Supply Chain and Operations Officer, stated during President Claudia Sheinbaum’s daily news conference that this investment is expected to generate 1,200 new direct and indirect jobs in Mexico.
This announcement is part of a series of major investment commitments made by company executives who have been invited to speak at the presidential palace alongside President Sheinbaum.
Economy Minister Marcelo Ebrard commented that these investments signify a positive and promising outlook for Mexico.
Earlier in March, the American retail giant Walmart disclosed plans to invest over $6 billion in Mexico within the year, which would create several thousand jobs.
Other foreign companies, including the e-commerce leader Amazon, its competitor Mercado Libre, streaming service Netflix, and Spain’s largest bank Santander, have also announced significant investments.
President Trump has introduced various tariffs affecting Latin American nations, although some were later retracted. While Mexico has been excluded from a list of countries facing high “reciprocal tariffs,” its automotive, steel, and aluminum sectors remain subject to duties.
The Trump administration aims to reduce trade deficits with Mexico and other countries accused of engaging in “unfair” trade practices.
President Sheinbaum recently had a phone conversation with Trump, during which she agreed to collaborate on improving the trade balance between the two nations.
This information was originally reported by Fortune.com.
