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G.M. is investing $5 billion to upgrade its plants in Mexico. Toyota, Volkswagen, Honda and BMW are all adding jobs and new products at their Mexican facilities. And as with Ford, any manufacturing those companies keep in the United States will probably involve more expensive vehicles whose profit margins justify the higher labor costs of building them.
We [also] knew that low-wage manufacturing was going to move to Mexico from Canada and the U.S. And of course, part of this also moved to China and other locations, but Mexico has the advantage of proximity to the U.S.â. He acknowledges that Mexico has a surplus with the U.S. in trade â âand NAFTA accelerated that. But the U.S. runs a trade deficit with 90% of the countries in the world. So Mexico is not unique. In fact, the U.S. also runs a deficit with Canada, and thatâs mostly because of oil and gas.â. If NAFTA had not been signed, Guillen adds, âthe jobs would probably have gone to China or somewhere else; most jobs have relocated to China.