Samsung Electronics suspends new investment in Mexico, plans to cut 30% of its workforce

Due to the uncertainty of Trump's tariff policy, Samsung Electronics has decided to suspend all new investments in Mexico and plans to lay off 30% of its employees, involving about 2,000 employees. Samsung has two large factories in Mexico, mainly responsible for memory chip packaging, smartphones and home appliance manufacturing, and about 60% of its products are exported to the US market. If the 25% tariff takes effect, Samsung's export costs to the US will increase significantly, which will directly weaken its price competitiveness.