Pope issues veiled rebuke of Trump’s border wall

Independent – Pope Francis has issued a thinly veiled rebuke of Donald Trump’s cornerstone policy to build a wall along the border with Mexico. The pontiff did not refer to the US President by name or directly mention his plan to build a fence along the border but instead emphasised the need to forge bridges rather than walls.

http://www.independent.co.uk/news/world/americas/pope-francis-rebuke-donald-trump-mexico-border-wall-us-president-catholic-church-chrisitian-a7570796.html

Despite Trump pressure, companies plow ahead with moves to Mexico

Nucor is moving forward with Japan’s JFE Steel to build a new plant in Mexico to make steel for car makers.
Nucor is moving forward with Japan’s JFE Steel to build a new plant in Mexico to make steel for car makers.

By Andrew Tangel / Wall Street Journal

President Donald Trump boosted the hopes of employees at Rexnord Corp.’s factory in Indianapolis in December when he castigated the company for “viciously firing” workers and planning to move their jobs to Mexico.

Two months later, Rexnord is still planning to close the industrial-bearings factory, which employs about 350 people, despite Trump’s shaming and his earlier intervention to stop a nearby Carrier Corp. furnace factory from closing.

Rexnord says moving the plant to Mexico is part of a plan to save $30 million annually.

Executives at Peoria, Ill.-based Caterpillar are moving ahead with a restructuring that includes shifting jobs from a Joliet, Ill., factory to Monterrey, Mexico.

Charlotte, N.C.-based Nucor is moving forward with Japan’s JFE Steel to build a new plant in Mexico to make steel for car makers.

The continuing investments abroad underscore the scale of the economic forces that confront President Trump’s plans to persuade U.S. firms to stop moving operations — and jobs — to Mexico.

https://www.wsj.com/articles/rexnord-plows-ahead-with-mexico-plans-despite-trumps-pressure-1486555201

Mexico is key cog in GM profit machine

WSJ – General Motors Co. reported another record profit in its core North American market last year, but a key driver of its performance in the region is vulnerable to the Trump administration’s proposed crackdown on imports. About 20% of the company’s highly profitable light trucks are built in Mexican factories.

https://www.wsj.com/articles/gm-says-it-supports-tax-reform-but-border-tax-is-complicated-1486473480

Terror suspects come from Canada, not Mexico

Daily Beast – Donald Trump keeps talking about the threat from the U.S.-Mexico border. But he may be looking in the wrong direction. FBI reports reviewed by The Daily Beast reveal that far more suspected terrorists try to enter the country from the northern border with Canada than from the south.

http://www.thedailybeast.com/articles/2017/02/07/fbi-reports-show-terror-suspects-coming-from-canada-while-trump-stares-at-mexico.html

Sun, sand and geopolitics: the lure of Mexico

BeachGlobe and Mail – With Donald Trump occupying the Oval Office, Canadians are carefully considering the geopolitical landscape before laying out their purchase plans and Mexico is benefiting. The peso has dropped some 15 per cent against the greenback since Mr. Trump’s victory in November while the Canadian dollar has strengthened. Although most Mexican properties in the desired oceanfront areas are priced in U.S. dollars, local real estate experts still contend it is an affordable market for Canadian investors.

http://www.theglobeandmail.com/globe-investor/globe-wealth/sun-sand-and-geopolitics-the-lure-of-mexicos-vacation-properties/article33905841/

Mexico keeps gas prices unchanged after riots across country

Riot police in Mexico City took cover behind their shields during a clash with farm workers, who have denounced a gasoline price increase that raised the price of tractor fuel. (Eduardo Verdugo/AP)
Riot police in Mexico City took cover behind their shields during a clash with farm workers, who have denounced a gasoline price increase that raised the price of tractor fuel. (Eduardo Verdugo/AP)

By Juan Montes / Wall Street Journal

Mexico’s government kept gasoline prices unchanged Friday after a big jump in prices in early January prompted protests, riots and looting across the country.

The decision to leave prices unchanged in the first weeks of February followed a slight decline in international oil prices and an appreciation of the peso in recent weeks. A senior official at the Finance Ministry said no subsidies or tax breaks will be needed to keep prices unchanged.

But the move also had political implications, analysts said. A second jump in gasoline prices could have reignited protests at a moment when President Enrique Peña Nieto is enjoying broad support after canceling last week his planned visit to the U.S. to meet President Donald Trump, who is widely unpopular in Mexico.

https://www.wsj.com/articles/mexico-keeps-gasoline-prices-unchanged-after-riots-1486136098