MEXICO CITY (Reuters) – Mexican Economy Minister Raquel Buenrostro and U.S. Commerce Secretary Gina Raimondo agreed on Friday to work on a plan as early as possible , moving companies from Asia to North America, the Mexican government said.
Boon Rostro, on her first visit to Washington since taking office in October, met with senior U.S. officials this week to discuss shared trade issues and efforts to woo Asian businesses.
Buenrostro’s department said she and Raimondo discussed on Friday the promotion of supply chains, especially for printed circuit boards and semiconductors, and agreed on the importance of energy, food and national security to economic development.
The ministry said in a statement that the two countries will jointly present the economic and financial benefits to the private sector within the first two months of that their countries are providing services for corporate relocation.
This summer, the U.S. government approved legislation called the CHIP Act, which would provide more than 52 billion dollars to boost U.S. semiconductor manufacturing capabilities.
On Thursday, Buenrostro discussed efforts to resolve a bilateral dispute over Mexico’s energy policy with U.S. Trade Representative Catherine Ty. Day also stressed the importance of avoiding disruptions to U.S. corn exports to Mexico.