Day: May 23, 2020

Mexico’s president revs up car industry, and wider economy

By Anthony Esposito, Daina Beth Solomon and Sharay Angulo

MEXICO CITY, May 13 (Reuters) – President Andres Manuel Lopez Obrador will lay out a roadmap on Wednesday for Mexico to re-open its economy, with a focus on the automotive sector whose supply chains are closely interwoven with U.S. carmakers.

The U.S. government and automotive companies have called on Mexico to reopen factories serving the U.S. market, despite the Latin American nation still dealing with a rising number of infections from the coronavirus pandemic. Mexico on Tuesday registered 353 coronavirus deaths in its most lethal day yet.

Mexico sends 80% of its exports to the U.S. and became the United States’ biggest trade partner last year, with bilateral commerce worth over $600 billion.

Lopez Obrador has been eager to get Mexico’s businesses firing again amid forecasts the economy could contract by as much as 10% in 2020, plunging the country into

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