Brewery giant Heineken plans to invest $2.75 billion in Mexico by the end of 2028 to build a new plant and other projects, Oriol Bonacloca, the Dutch company's chief executive in the country, told AFP.

This pledge follows similar moves by companies such as Walmart, Netflix, and Spanish bank Santander, despite tensions with the Trump administration over import tariffs.

“Heineken will use the investment to finance a new plant and other projects by the end of 2028,” the company's Mexican CEO Oriol Bonacloca said during President Claudia Sheinbaum's morning press conference.

The new plant in the southeastern state of Yucatan will create about 3,000 direct and indirect jobs, Bonacloca said.

The plan is a “clear sign of confidence in Mexico,” Yucatan Governor Joaquin Diaz said.

In April, rival brewer Grupo Modelo, which produces Corona beer, announced an investment of over $3.6 billion in Mexico to modernize its plants.

Mexico's economy is considered one of the most vulnerable to Trump's tariffs due to the close trade relations between the two countries.

At the same time, Mexico is benefiting from tariff relief thanks to a trilateral free trade agreement in North America, which also includes Canada.

Shane Baum is seeking an agreement with Trump to lift the remaining tariffs, particularly on cars, steel, and aluminum. | BGNES