Related videos:
Despite a potential trade war, the renowned American hardware and DIY company Home Depot announced on Thursday an investment of 1.3 billion dollars in Mexico, aiming to generate approximately 2,000 direct jobs over the next three years.
The news was revealed by the general director of the company in the country, José Antonio Rodríguez Garza, during the daily press conference led by the president of Mexico, Claudia Sheinbaum, as reported by the news agency EFE.
Rodríguez Garza detailed that the investment is part of Home Depot's expansion plans in the country, where the store has had a growing presence for 23 years.
Mexico has been key to the growth of Home Depot during its more than 23 years of operations in the Mexican market. "This is a fundamental step to continue our development in the country and contribute to the well-being of thousands of Mexican families," explained Rodríguez Garza.
The company plans to open five new stores each year, reaching a total of 165 stores in Mexico by 2028. Rodríguez Garza noted that this expansion will not only boost direct employment but will also contribute to improving the quality of life for Mexicans by generating "quality" jobs.
This investment announcement adds to the efforts to promote foreign investment in Mexico, which closed 2024 with a historic record of $36.872 billion in foreign direct investment (FDI), an increase of 2.3% compared to the previous year.
However, the uncertainty regarding potential tariffs imposed by the United States could affect investment expectations for this year.
Frequently Asked Questions about Home Depot's Investment in Mexico and Its Impact
How much will Home Depot invest in Mexico and what impact will it have?
Home Depot will invest 1.3 billion dollars in Mexico over the next three years, which will create around 2,000 direct jobs. This investment is part of an expansion plan aimed at opening five new stores per year in the country, significantly contributing to employment and local economic development.
What challenges does Home Depot's investment face due to Trump's tariff policies?
Despite the announced investment, there is uncertainty due to the potential tariff policies of Donald Trump, who has threatened to impose a 25% tariff on Mexican imports. These measures could impact Home Depot's operations in Mexico, increasing import costs and creating an environment of uncertainty for foreign investment.
What is Mexico's role in the growth of Home Depot?
Mexico has been key to Home Depot's growth for over 23 years, serving as a strategic market for the company. The current investment aims to further develop this market, enhancing the quality of life for thousands of Mexican families through the creation of quality jobs.
How could the tariff war affect trade relations between Mexico and the United States?
The potential imposition of tariffs by Trump could strain trade relations between Mexico and the United States, affecting agreements such as the USMCA. This could negatively impact foreign direct investment in Mexico and the flow of goods between the two countries, increasing costs and complicating business operations.
Filed under: