Amazon rival Mercado Libre to invest $3.4 billion in Mexico

Mercado Libre, a Latin American rival of Amazon, announced Friday a $3.4 billion investment in Mexico, the latest in a series of pledges by foreign firms in spite of US tariff threats.

"It means that despite these tariff issues, they're going to continue their investment in Mexico," Economy Minister Marcelo Ebrard said after the Argentine company announced its plan at President Claudia Sheinbaum's morning news conference.(AFP)