President-elect Donald Trump on Monday pledged tariffs on america’ 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 below are firms with a producing presence in Mexico.
AUTOMAKERS
Honda 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 might have to consider shifting manufacturing if the U.S. have been to impose everlasting tariffs on autos imported from the nation.
Nissan 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 have been exported to the U.S. market.
Toyota Motor has a smaller footprint in Mexico, making solely its Tacoma pick-up truck at two crops there. It offered greater than 230,000 of them within the U.S. in 2023, representing about 10% of its complete gross sales in that market. Toyota used to provide the Tacoma within the U.S. however now ships all of them from Mexico, which accounts for many of the manufacturing on the crops.
Mazda exported round 120,000 autos from Mexico to america in 2023. Mazda President Masahiro Moro stated on Nov. 7 that the tariff subject is “not an issue that may be solved by particular person firms” and it might rigorously study the main points earlier than deciding its response.
South Korea’s Kia Corp has a manufacturing unit in Mexico that makes its personal autos and a small variety of Santa Fe SUVs for its affiliate Hyundai Motor for U.S. exports.
GERMAN AUTOMAKERS
Volkswagen’s manufacturing unit in Puebla is the most important auto plant in Mexico and one of many largest within the VW Group, in line with the carmaker’s web site. Almost 350,000 vehicles have been made there in 2023, together with the Jetta, Tiguan and Taos, all for export to the U.S.
Its Audi plant in San Jose Chiapa makes the Q5, using simply over 5,000 folks. It produced practically 176,000 vehicles in 2023, its web site confirmed. Within the first half of 2024, practically 40,000 have been exported to the U.S., in line with the Mexican Automotive Producers Affiliation.
BMW’s plant in San Luis Potosi produces the three Sequence, 2 Sequence Coupe and M2, with practically all of the output going to the U.S. and different markets worldwide, in line with the carmaker. From 2027, it is going to produce the all-electric ‘Neue Klasse’ mannequin line.
TESLA SUPPLIERS
Tesla inspired its Chinese language suppliers to arrange crops in Mexico in 2023 to primarily provide the U.S. automaker’s deliberate Gigafactory 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.
CHINESE AUTOMAKERS AND SUPPLIERS
Some Chinese language automobile element makers resembling seat maker Yanfeng Automotive Interiors have been producing in Mexico for years to produce automakers together with Basic Motors and Toyota, which had relocated their capability to Mexico to decrease prices.
Chinese language high EV maker BYD has been scouting for areas to construct a plant in Mexico however has stated repeatedly that the manufacturing unit will serve the home market and never produce vehicles to be offered within the U.S.
JAC Motors has since 2017 had a three way partnership in Mexico with Large Motors to assemble JAC model autos. SAIC-owned MG in August introduced plans to construct a plant within the nation.
FOXCONN
The world’s largest electronics contract producer Foxconn is constructing a large synthetic intelligence server manufacturing unit in collaboration with Nvidia 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 information centre merchandise at an enormous website in Monterrey that it expanded in 2021. It stated on the time that each one of its information centre merchandise for the North American market are manufactured in Monterrey.
LG ELECTRONICS
South Korea’s LG Electronics makes TVs, dwelling home equipment and EV elements at its Mexican websites. It stated on Nov. 26 that it’s reviewing prospects together with modifications in commerce insurance policies.
SAMSUNG ELECTRONICS
South Korea’s Samsung Electronics makes TVs and residential home equipment in Mexico and exports them to the U.S..
PACKAGED GOODS COMPANIES
Procter & Gamble and Unilever are among the many huge packaged items firms uncovered to tariffs on imports from Mexico, information reveals.
About 10% of P&G’s shipments within the three months to September have been from Mexico, in line with import information supplier ImportYeti. Round 2% of Unilever’s sea imports into america come from Mexico, the info reveals.
Each firms and different huge shopper teams resembling Pepsico and Lay’s Chips, have collectively invested tons of of thousands and thousands of {dollars} of their Mexican provide chains.
