Samsung Electro-Mechanics abandons plan to build a factory in Mexico

Samsung Electro-Mechanics has decided to abandon its plan to build a new manufacturing plant in Mexico and dissolve its subsidiary in Mexico due to the unstable tariff policy of US President Trump. Samsung Electro-Mechanics originally planned to set up a subsidiary in Querétaro, a city in central Mexico, to build a production facility for automotive camera modules to supply major North American customers such as Tesla. However, due to the uncertainty of the United States-Mexico-Canada Agreement (USMCA), Samsung Electro-Mechanics has decided to shelve the project.