Bank of America bets on long-term growth in Mexico due to 'nearshoring', despite Trump tariff threat

Aida Pelaez-fernandez - Reuters - 28/11
Bank of America is bullish on its future in Mexico, according to the head of the bank's unit in the country, and stands to benefit from the so-called "nearshoring" trend even after threats of tariffs on exports to the U.S. by President-elect Donald Trump.
MEXICO CITY, Nov 28 (Reuters) - Bank of America is bullish on its future in Mexico, according to the head of the bank's unit in the country, and stands to benefit from the so-called "nearshoring" trend even after threats of tariffs on exports to the U.S. by President-elect Donald Trump.

WHY IT'S IMPORTANT

Trump's threat earlier this week to slap tariffs on Mexico and Canada has roiled markets and clouded the horizon for investments by multinational firms into the region.
The three countries are part of a regional trade agreement known as the USMCA, which is up for review in 2026. The neighboring nations, particularly the U.S. and Mexico, are heavily reliant on imports and exports from the other country.

KEY QUOTES

"It will be very difficult for uncertainties, either internal or external effects to alter or modify the opportunities that we see in Mexico," said Ban...
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