US President-elect Donald Trump on Monday (Nov 25) pledged tariffs on the United States’ three largest trading partners – 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 Motor sends 80 per cent of its manufacturing in Mexico to the US market and its chief working officer Shinji Aoyama warned earlier this month if the US had been to impose everlasting tariffs on autos imported from Mexico, it will have to consider shifting manufacturing.
Nissan Motor has two crops in Mexico the place it makes the Sentra, Versa and Kicks fashions for the US 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 had been exported to the US market.
Toyota Motor has a smaller footprint in Mexico, making its Tacoma pick-up truck at two crops there.
It bought greater than 230,000 of the Tacoma within the US final 12 months, representing about 10 per cent of its complete gross sales in that market. Toyota used to supply the Tacoma within the US, however now ships all of them from Mexico, the place the automobile is the one mannequin it makes in its crops. A lot of the manufacturing there’s for exports to the US.
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 firms”, and it will fastidiously look at the small print 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 for US exports.
TESLA SUPPLIERS
Tesla inspired its Chinese language suppliers to arrange crops in Mexico in 2023 to primarily provide to the US 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 objective and shifted to an enlargement plan with its Texas plant.
