Global companies may be affected by Trump’s promised tariffs By Reuters

(Reuters) – U.S. President Trump said he may impose tariffs of 25% on Canada and Mexico starting February 1, sending shares of several Asian car companies and battery firms into a tailspin on Tuesday. .

Here are the companies that may be involved (by sector, in alphabetical order):

ADD WORK

Audi

Volkswagen (ETR:)’s Audi plant in San Jose Chiapa, Mexico, makes the Q5, which employs just over 5,000 people. It produced about 176,000 vehicles by 2023, its website showed. In the first quarter of 2024, about 40,000 vehicles were imported to the US, according to the Association of Mexican Automotive Manufacturers.

BMW (ETR 🙂

BMW’s plant in San Luis Potosi, Mexico, produces the 3 Series, 2 Series Coupe and M2, nearly all of which go to the US and other markets around the world, according to the automaker. From 2027, it will produce a “Neue Klasse” electric line.

BYD (SZ:)

Chinese EV maker BYD is looking for locations to build a plant in Mexico but has repeatedly said the plant will serve the local market and not produce vehicles for sale in the US.

HONDA MOTORCYCLES

Honda (NYSE:) Motor exports 80% of its Mexican production to the US market and its Chief Operating Officer Shinji Aoyama warned in November that it would have to consider production changes if the US it can impose permanent tariffs on cars from that country.

JAC MOHLIMO

China’s JAC Motors has since 2017 had a joint venture in Mexico with Giant Motors to assemble JAC brand vehicles. SAIC’s MG in August announced plans to build a plant in the country.

KIA CORP

South Korea’s Kia Corp has a factory in Mexico that makes its own cars and a small number of Tucson SUVs for its Hyundai Motor (OTC:) subsidiary for US imports.

MAZDA

Mazda said it produced about 209,000 vehicles in Mexico by 2024 and exported about 60% of those to the US.

Its president Masahiro Moro said in November that the tariff issue “is not a problem that can be solved by individual companies” and that it would carefully examine the facts before deciding on its response.

NTS’ANE ETS’ONE

Nissan (OTC:) Motor has two plants in Mexico where it makes the Sentra, Versa and Kicks models for the US market. It produced about 505,000 vehicles in Mexico in the first nine months of 2024. The company did not disclose how many of them were sent to the US market.

SPRINGS

Stellantis (NYSE: ) operates two assembly plants in Mexico: Saltillo, which makes Ram pick-ups and vans, and Toluca, for the Jeep Compass mid-size SUV. The Franco-Italian group also has two assembly plants in Ontario, Canada: Windsor, where it manufactures Chrysler models, and Brampton, which is currently under renovation and is scheduled to start production in 2025 with a new Jeep model .

TOYOTA MOTOR

Toyota Motor (NYSE: ) builds its Tacoma pickup truck at two plants in Mexico. It sold more than 230,000 of them in the US by 2023, representing about 10% of its total sales in that market. Toyota used to produce the Tacoma in the United States but now exports all of them from Mexico, which accounts for most of the production plants.

VOLKSWAGEN

The Volkswagen plant in Puebla is the largest automobile plant in Mexico and one of the largest in the VW Group, according to the automaker’s website. About 350,000 vehicles are made there by 2023, including the Jetta, Tiguan and Taos, all for US export.

ADDITIONAL WORK

CAR LIFE

Sweden’s Autoliv (NYSE:), the world’s largest manufacturer of airbags and seat belts, said it employs about 15,000 workers in Mexico, declining to comment on shipments to the United States from there.

MICHELIN

A tire manufacturer Michelin (EPA:) has two plants in Mexico – Queretaro and Leon – and three in Canada: Pictou, Bridgewater and Waterville.

ALWAYS

Chinese seat maker Yanfeng Automotive Interiors has been producing in Mexico for years to supply automakers including General Motors (NYSE: ) and Toyota.

OTHERS

Other component manufacturers with plants in Mexico serving the production of vehicles for the US market include Italian tiremaker Pirelli, an Italian brake manufacturer. Brembo (BIT:) and Eurogroup Laminations of Italy.

Eurogroup Laminations, which has Tesla (NASDAQ: ) among its customers, specializes in stators and rotors, two key components of electric motors and generators.

American carmaker Tesla has encouraged its Chinese suppliers to set up plants in Mexico by 2023 to supply its planned factory in Mexico.

Tesla initially planned to start production in Mexico in early 2025 but has largely changed the expansion plan of its plant in Texas.

DEPUTY

FOXCONN

The world’s largest manufacturer of electronic components, based in Taiwan Foxconn (SS:), is building a large artificial intelligence factory in partnership with Nvidia (NASDAQ:) Mexico. It plans to start production in early 2025 to make a liquid-cooled server with Nvidia’s powerful new Blackwell family of AI chips.

LENOVO

Chinese computer maker Lenovo produces equipment and other data center products at a major location in Monterrey, Mexico, which was expanded in 2021. It said at the time that all of its data center products for of the North American market are made in Monterrey.

LG ELECTRONICS

South Korea’s LG Electronics makes televisions, home appliances and EV components at its Mexican facilities. It said in November that it was exploring opportunities, including changes in business strategies.

SAMSUNG ELECTRONICS

South Korea’s Samsung Electronics (KS:) makes televisions and home appliances in Mexico and exports them to the US

FOOD AND DRINK

COMPANY

Italian spirits group Campari (LON:) has three production sites in Mexico, the main one producing tequila under the Espolon brand, and the other in Canada, producing a whiskey brand. of Canada’s Forty Creek, according to a recent performance report.

According to Citi, Campari generates 27% of its US sales from Mexico and Canada.

APPRECIATION POETRY

PROCTER AND BEACH AND UNILEVER

Procter & Gamble (NYSE: ) and Unilever (LON: ) is among the largest packaged goods companies exposed to tariffs on imports from Mexico, data shows.

About 10% of P&G’s shipments in the three months to the end of September came from Mexico, according to export data provider ImportYeti. About 2% of Unilever’s seafood imports into the United States come from Mexico, the data show.

Both companies and other large consumer groups such as Pepsico (NASDAQ: ) and Lay’s chips, have jointly invested hundreds of millions of dollars in their Mexican supply chains.