(Reuters) -President-elect Donald Trump on Monday pledged tariffs on the USA’ three largest buying and selling companions – Canada, Mexico and China – detailing how he’ll implement marketing campaign guarantees that might set off commerce wars.
Listed here are firms which can be affected (by sector, in alphabetical order):
AUTOMAKERS
AUDI
Volkswagen (ETR:)’s Audi plant in San Jose Chiapa, Mexico, makes the Q5, using simply over 5,000 individuals. It produced practically 176,000 vehicles in 2023, its web site confirmed. Within the first half of 2024, practically 40,000 had been exported to the U.S., in accordance with the Mexican Automotive Producers Affiliation.
BMW (ETR:)
BMW’s plant in San Luis Potosi, Mexico, produces the three Collection, 2 Collection Coupe and M2, with practically all of the output going to the U.S. and different markets worldwide, in accordance with the carmaker. From 2027, it can produce the all-electric ‘Neue Klasse’ mannequin line.
BYD (SZ:)
Chinese language EV maker BYD has been scouting for areas to construct a plant in Mexico however has mentioned repeatedly that the manufacturing facility will serve the home market and never produce vehicles to be bought within the U.S.
HONDA MOTOR
Honda (NYSE:) Motor sends 80% of its Mexican output to the U.S. market and its chief working officer Shinji Aoyama warned on Nov. 6 that it could have to consider shifting manufacturing if the U.S. had been to impose everlasting tariffs on autos imported from the nation.
JAC MOTORS
JAC Motors has since 2017 had a three way partnership in Mexico with Big Motors to assemble JAC model autos. SAIC-owned MG in August introduced plans to construct a plant within the nation.
KIA CORP
South Korea’s Kia Corp has a manufacturing facility in Mexico that makes its personal autos and a small variety of Santa Fe SUVs for its affiliate Hyundai Motor (OTC:) for U.S. exports.
MAZDA
Mazda exported round 120,000 autos from Mexico to the USA in 2023. Mazda President Masahiro Moro mentioned on Nov. 7 that the tariff difficulty is “not an issue that may be solved by particular person firms” and it could fastidiously study the small print earlier than deciding its response.
NISSAN MOTOR
Nissan (OTC:) Motor has two crops in Mexico the place it makes the Sentra, Versa and Kicks fashions for the U.S. market. It produced practically 505,000 autos in Mexico within the first 9 months of 2024. The corporate doesn’t disclose what number of of these had been exported to the U.S. market.
STELLANTIS
Stellantis (NYSE:) operates two meeting crops in Mexico: Saltillo, which makes Ram pick-ups and vans, and Toluca, for the Jeep Compass mid-sized SUV. The Franco-Italian group additionally owns two meeting crops in Ontario, Canada: Windsor, the place it makes Chrysler fashions, and Brampton, presently beneath retooling and scheduled to renew manufacturing in 2025 with a brand new Jeep mannequin.
TOYOTA MOTOR
Toyota Motor (NYSE:) builds its Tacoma pick-up truck at two crops in Mexico. It bought greater than 230,000 of them within the U.S. in 2023, representing about 10% of its whole gross sales in that market. Toyota used to supply the Tacoma within the U.S. however now ships all of them from Mexico, which accounts for many of the manufacturing on the crops.
VOLKSWAGEN
Volkswagen’s manufacturing facility in Puebla is the biggest auto plant in Mexico and one of many largest within the VW Group, in accordance with the carmaker’s web site. Practically 350,000 vehicles had been made there in 2023, together with the Jetta, Tiguan and Taos, all for export to the U.S.
AUTO SUPPLIERS
AUTOLIV
Sweden’s Autoliv (NYSE:), the world largest maker of airbags and seat belts, mentioned it employs round 15,000 employees in Mexico, declining to touch upon exports into the U.S. from there.
MICHELIN
Tyre maker Michelin (EPA:) has two crops in Mexico — Queretaro and Leon — and three in Canada: Pictou, Bridgewater and Waterville.
YANFENG
Chinese language seat maker Yanfeng Automotive Interiors have been producing in Mexico for years to produce automakers together with Basic Motors (NYSE:) and Toyota, which had relocated their capability to Mexico to decrease prices.
OTHERS
Different half makers with crops in Mexico serving automotive manufacturing for the U.S. market embody Italian tyremaker Pirelli, Italian premium brake maker Brembo (BIT:) and Italy’s Eurogroup Laminations.
Eurogroup Laminations, which has Tesla (NASDAQ:) amongst its shoppers, specialises in stators and rotors, two key elements of electrical motors and mills.
U.S. automaker Tesla inspired its Chinese language suppliers to arrange crops in Mexico in 2023 to primarily provide its deliberate manufacturing facility in Mexico.
Tesla initially deliberate to begin manufacturing in Mexico in early 2025 however has largely shifted to an growth plan for its Texas plant.
ELECTRONICS
FOXCONN
The world’s greatest electronics contract producer Foxconn (SS:) is constructing an enormous synthetic intelligence server manufacturing facility in collaboration with Nvidia (NASDAQ:) in Mexico. It plans to begin manufacturing early in 2025 making a liquid-cooled server containing Nvidia’s new and highly effective Blackwell household of AI chips.
LENOVO
Chinese language laptop maker Lenovo produces servers and different knowledge centre merchandise at a large web site in Monterrey, Mexico, which it expanded in 2021. It mentioned on the time that every one of its knowledge centre merchandise for the North American market are manufactured in Monterrey.
LG ELECTRONICS
South Korea’s LG Electronics makes TVs, residence home equipment and EV components at its Mexican websites. It mentioned on Nov. 26 that it’s reviewing potentialities together with adjustments in commerce insurance policies.
SAMSUNG ELECTRONICS
South Korea’s Samsung Electronics (KS:) makes TVs and residential home equipment in Mexico and exports them to the U.S.
FOOD & DRINK
CAMPARI
Italian spirits group Campari (LON:) has three manufacturing websites in Mexico, the principle one producing tequila beneath their model Espolon, and one in Canada, producing a model of Canadian whisky (Forty Creek), in accordance with their newest sustainability report.
They haven’t any manufacturing websites in China. In accordance with Citi, Campari imports 27% of its U.S. gross sales from Mexico and Canada.
RETAIL
Swedish fast-fashion retailer H&M (ST:) mentioned it’s “constantly trying into dangers linked to tariffs”. China is among the greatest manufacturing markets for Swedish fast-fashion retailer H&M, which sells in the USA. “We’re specializing in securing our processes to minimise any unfavorable influence on our provide chain in order that we are able to proceed serving our retailer and on-line clients within the US going ahead,” the corporate mentioned in a press release.
PACKAGED GOODS COMPANIES
Procter & Gamble (NYSE:) and Unilever (LON:) are amongst massive packaged items firms uncovered to tariffs on imports from Mexico, knowledge reveals.
About 10% of P&G’s shipments within the three months to end-September had been from Mexico, in accordance with import knowledge supplier ImportYeti. Round 2% of Unilever’s sea imports into the USA come from Mexico, the information reveals.
Each firms and different massive client teams reminiscent of Pepsico (NASDAQ:) and Lay’s chips, have collectively invested a whole bunch of tens of millions of {dollars} of their Mexican provide chains.