Synopsis
Trump announced tariffs on major trading partners, including Mexico. Many automakers like Honda, Nissan, and Toyota have plants in Mexico. These companies export a large portion of their Mexican production to the US. Other companies like Foxconn and Lenovo also have significant operations in Mexico. Some companies are considering their options in response to the potential tariffs.
President-elect Donald Trump on Monday pledged tariffs on the United States’ three largest trading partners – Canada, Mexico and China – detailing how he will implement campaign promises that could trigger trade wars. Here are companies with a manufacturing presence in Mexico.
ASIAN AUTOMAKERS
Honda Motor sends 80% of its production in Mexico to the U.S. market and its chief operating officer Shinji Aoyama warned earlier this month if the U.S. were to impose permanent tariffs on vehicles imported from Mexico, it would have to think about shifting production.
Nissan Motor has two plants in Mexico where it makes the Sentra, Versa and Kicks models for the U.S. market. It produced nearly 505,000 vehicles in Mexico in the first nine months of this year. The company does not disclose how many of those were exported to the U.S. market.
Toyota Motor has a smaller footprint in Mexico, making its Tacoma pick-up truck at two plants there.
