As Trump seeks proposals for an impenetrable, yet "aesthetically pleasing", 30-foot border wall, Mexico's government on Tuesday warned Mexican companies that it would not be in their best "interests" to participate in the project even though there will be no explicit legal restrictions or sanctions to stop them if they tried. Per Reuters:
"We're not going to have laws to restrict (companies), but I believe considering your reputation it would undoubtedly be in your interest to not participate in the construction of the wall," said Mexican Economy Minister Ildefonso Guajardo.
"There won't be a law with sanctions, but Mexicans and Mexican consumers will know how to value those companies that are loyal to our national identity and those that are not," Guajardo added.
His comments echo those of Mexico's foreign minister Luis Videgaray, who said on Friday that Mexican companies that see a business opportunity in the wall should "check their conscience" first.
Despite the warnings, Cemex, one of the world's largest cement producers, has said it is open to providing quotes to supply the raw materials for the border wall and competitor Grupo Cementos de Chihuahua has also signaled a readiness to work on the project.
Meanwhile, the only Mexican company, out of some 720 in total, to put its name down on the U.S. government's website for business opportunities as an interested vendor for the wall construction, is a small, four-member concern from the central city of Puebla that wants to provide LED lights that it imports mostly from China.
Ildefonso Guajardo Villarreal, Mexico's Economy Minister
Of course, while the Mexican government offers up warnings without any real teeth, in the Communist country of California, politicians have actually introduced legislation to ban its pension funds from investing in companies that provide their services to build the wall...because who care about fiduciary duties? From our post yesterday:
A new piece of legislation recently introduced in California, Assembly Bill (AB) 946 or the "Resist the Wall Act," would require the California Public Employee Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) – the nation’s first and second largest pension funds - to liquidate within 12 months any investments in companies involved in the construction of President Trump's "Wall of Shame". The bill also requires the two pension funds to report to the Legislature and the Governor by January 1, 2019 with a list of companies from which they have liquidated investments or plan to do so.
Not surprisingly, the legislation was penned by a trio of Cali democrats including Assemblymembers Phil Ting (D-San Francisco), Lorena Gonzalez Fletcher (D-San Diego), and Eduardo Garcia (D-Coachella).
Californians build bridges not walls. AB 946 asks PERS and STRS to #resist the wall and divest from its builders. https://t.co/373fnOfaue pic.twitter.com/JHWDnRip8p
— Phil Ting (@PhilTing) March 20, 2017
In a press release posted to his website, Ting said that "Californians build bridges not walls" and declared for all of California that they want no part of Trump's "Wall of Shame."
“Californians build bridges not walls. This is a wall of shame and we don’t want any part of it. Immigrant stories are the history of America and this is a nightmare,” said Ting. “Asian Americans know the pains of being blocked from immigrating to the United States. We endured that indignity under an act of Congress for decades. We must stand together and fight this wall because it symbolizes weakness and hate to the world.”
“The state’s contracting and investment practices should reflect the values of our state,” said Gonzalez Fletcher. “It’s clear the people of California don’t want to invest in the hateful values that the Trump wall represents.”
“It is counterproductive to invest in projects that will not serve the best interest of all Californians. It is the responsibility of the legislature to safeguard our values and create opportunities for economic growth, rather than to bar them,” stated Garcia. “We cannot build up our dreams if our resources are being used to build a wall.”
Shockingly, Villarreal did not provide an update on how/where Mexico will source the $15-$20 billion in funds required to pay for the wall during his comments.