General Electric backs NAFTA and voices support for MexicoBy Elliot Bullman
Last Friday General Electric praised Mexico as a big part of its future 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.
GE Chief Executive Officer Jeff Immelt said on a visit that Mexico had great potential and touted the conglomerate's Mexican operations and the trade deal binding Mexico, Canada and the United States.
The GE boss said trade meant "win-win" opportunities across North America and that GE wants to see a close relationship between the U.S. and Mexico, noting that GE's exports to the rest of the world from Mexico were worth $3 billion.
Earlier this month, Immelt urged the Trump administration to avoid protectionist policies, calling on it to level the playing field for U.S. companies with tax reform, revived export financing and improved trade agreements.
Unlike some U.S. companies, GE has not backed off plans in Mexico, risking broadsides from Trump on Twitter.
On Thursday, GE announced it had won a contract to provide plants producing two new gigawatts of power in Mexico and secured a separate $120 million, multi-year service deal.
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