(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 below are firms 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. had been to impose everlasting tariffs on automobiles imported from Mexico, it could 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 practically 505,000 automobiles in Mexico within the first 9 months of this 12 months. The corporate doesn’t disclose what number of of these had 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 bought greater than 230,000 of the Tacoma within the U.S. final 12 months, 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, the place the car is the one mannequin it makes in its vegetation. Many of the manufacturing there’s for exports to the U.S.
Mazda exported round 120,000 automobiles from Mexico to the USA final 12 months.
Mazda President Masahiro Moro stated earlier this month the tariff subject is “not a problem that can be solved by individual companies,” and it could fastidiously look at the main points earlier than deciding its response.
South Korea’s Kia Corp has a manufacturing unit in Mexico that makes its personal automobiles 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 begin manufacturing in Mexico in early 2025 however has largely walked away from that objective and shifted to an growth plan with its Texas plant.
CHINESE AUTOMAKERS AND SUPPLIERS
Some Chinese language automotive part makers equivalent to seat maker Yanfeng Automotive Interiors have been producing in Mexico for years to produce to automakers together with Normal Motors (NYSE:) and Toyota, which had relocated their capability to Mexico for decrease prices.
Chinese language high EV maker BYD (SZ:) 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 automobiles to be bought within the U.S.
JAC Motors has since 2017 had a three way partnership in Mexico with Big Motors to assemble JAC model automobiles. SAIC-owned MG in August introduced plans to construct a plant within the nation.
FOXCONN
The world’s largest electronics contract producer Foxconn (SS:) is constructing an enormous synthetic intelligence server manufacturing unit in collaboration with Nvidia (NASDAQ:) in Mexico. It plans to begin 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 a large manufacturing website in Monterrey that it expanded in 2021. It manufactures servers and different information middle merchandise there and the corporate stated in 2021 that every one of its information middle merchandise for the North American market are produced in Monterrey.
LG ELECTRONICS
South Korea’s LG Electronics makes TVs, residence home equipment and electrical car components in its Mexico manufacturing websites.
It stated on Tuesday it’s reviewing varied potentialities together with modifications in commerce insurance policies.
