Insutrial advisors to President Trump will invest in Mexico

Caterpillar and Nu Corp, whose executives belong to the council of President Trump’s advisors on industrial politics, have informed they plan to close down some operations in the USA and transfer them to Mexico.

Regardless President Trump threats of heavy taxing, several American firms have maintained their expansion plans  in Mexico according to The Wall Street Journal.

Rexnord, industrial bearing company will still close a plant in Indiana, which yields 350 jobs in order to open a Mexican operation. President Trump had criticized the company in December for “insensibly firing” its workers, but Rexnord argued that it is part of a 30 billion dollar savings plan.

Caterpillar is under a restructuring stage including “taking away” jobs from Illinois to Monterrey, Nuevo León in northeastern Mexico, according to a spokeswoman they have been laying off personnel all over the world to stay alive in the “longest recession in our 92 year old history”.

Nucor, hailing from North Carolina, goes on with an alliance with Japanese JFE Steel to build a new plant in Mexico, producing steel for the automotive industry.

(Source: Notimex)

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