Mexicos largest movie chain threatens to stop buying U.S. popcorn if free trade ends
Source: Bloomberg
Mexicos largest movie chain threatens to stop buying U.S. popcorn if free trade ends
As Trump's administration prepares to renegotiate NAFTA, Mexicos largest theatre chain says it could export its $10 million of popcorn a year from elsewhere.
By ERIC MARTIN
Bloomberg
Mon., Feb. 6, 2017
As U.S. President Donald Trumps administration prepares to renegotiate NAFTA, the head of Mexicos largest movie theatre chain is warning that an end to free trade could convince him to buy his popcorn from Argentina instead of the U.S.
Cinepolis de Mexico, the worlds fourth-largest cinema chain, buys about $10 million a year of American kernels from farmers in Kansas, Missouri and Iowa, according to Chief Executive Officer Alejandro Ramirez.
He said his company already studied sourcing the corn from Argentina after Trumps campaign and victory helped push the peso to record lows against the dollar. For now, the U.S. still wins. But a tax of as little as 2 per cent could tip the scales, he said.
While automakers such as General Motors and Toyota have born the brunt of Trumps NAFTA displeasure, Cinepolis shows how key U.S. exports that are unrelated to manufacturing could become collateral damage. Ramirez, who heads a business chamber including the nations biggest multinational companies, said his group is working with its business partners in the U.S. to educate politicians there on the value of economic integration.
Read more: https://www.thestar.com/business/2017/02/06/mexicos-largest-movie-chain-threatens-to-stop-buying-us-popcorn-if-free-trade-ends.html
bettyellen
(47,209 posts)Tanuki
(14,920 posts)safeinOhio
(32,714 posts)to Southern Indiana..
HoneyBadger
(2,297 posts)In the US, I could buy a lot of popcorn for the $9.49 that AMC charges me for a large tub. I cannot believe the margins on this particular product are that close.
HoneyBadger
(2,297 posts)So a 2% bump gets you to 38 cents. Alrighty then, Evita send me your popcorn.
http://www.rd.com/advice/saving-money/10-outrageous-markups-youd-never-guess-you-were-paying/
Bernardo de La Paz
(49,033 posts)Sure, popcorn is nice, but far from necessary. And this kind of suckering is definitely a part of what makes America obese.
I refuse to pay such outrageous prices. I eat and drink before or after.
egold2604
(369 posts)Bernardo de La Paz
(49,033 posts)dembotoz
(16,826 posts)speaking of shitting..if i owned a company that exported lots of stuff that is what i would be doing right now.
trade wars hurt both sides which is why BRIGHT folks try to avoid them