(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 would set off commerce wars.
Listed here are corporations with a producing presence in Mexico.
ASIAN AUTOMAKERS
Honda (NYSE:) Motor sends 80% of its manufacturing in Mexico to the U.S. market and its chief working officer Shinji Aoyama warned earlier this month if the U.S. have been to impose everlasting tariffs on autos imported from Mexico, it will have to consider shifting manufacturing.
Nissan (OTC:) Motor has two vegetation in Mexico the place it makes the Sentra, Versa and Kicks fashions for the U.S. market. It produced almost 505,000 autos in Mexico within the first 9 months of this 12 months. The corporate doesn’t disclose what number of of these have been exported to the U.S. market.
Toyota Motor (NYSE:) has a smaller footprint in Mexico, making its Tacoma pick-up truck at two vegetation there.
It offered greater than 230,000 of the Tacoma within the U.S. final 12 months, 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, the place the automobile is the one mannequin it makes in its vegetation. Many of the manufacturing there may be for exports to the U.S.
Mazda exported round 120,000 autos from Mexico to the USA final 12 months.
Mazda President Masahiro Moro mentioned earlier this month the tariff problem is “not an issue that may be solved by particular person corporations,” and it will rigorously study the main points earlier than deciding its response.
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.
TESLA SUPPLIERS
Tesla (NASDAQ:) inspired its Chinese language suppliers to arrange vegetation in Mexico in 2023 to primarily provide to the U.S. automaker’s deliberate Gigafactory in Mexico.
Tesla initially deliberate to start out manufacturing in Mexico in early 2025 however has largely walked away from that purpose and shifted to an enlargement plan with its Texas plant.
CHINESE AUTOMAKERS AND SUPPLIERS
Some Chinese language automobile part makers reminiscent of seat maker Yanfeng Automotive Interiors have been producing in Mexico for years to provide to automakers together with Basic Motors (NYSE:) and Toyota, which had relocated their capability to Mexico for decrease prices.
Chinese language prime EV maker BYD (SZ:) 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 automobiles to be offered within the U.S.
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.
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 start out manufacturing early subsequent 12 months, making a liquid-cooled server containing Nvidia’s new and highly effective Blackwell household of AI chips.
LENOVO
Chinese language laptop maker Lenovo has an enormous manufacturing website in Monterrey that it expanded in 2021. It manufactures servers and different knowledge heart merchandise there and the corporate mentioned in 2021 that every one of its knowledge heart merchandise for the North American market are produced in Monterrey.
LG ELECTRONICS
South Korea’s LG Electronics makes TVs, house home equipment and electrical automobile elements in its Mexico manufacturing websites.
It mentioned on Tuesday it’s reviewing numerous potentialities together with adjustments in commerce insurance policies.
