Cars, electronics, and goods: Reuters identifies the international companies most impacted by Trump's tariffs.

U.S. President Donald Trump announced that starting February 1, he may impose a 25% tariff on imports from Canada and Mexico, causing the stocks of many Asian automakers and battery suppliers to drop on Tuesday, February 21.

Reuters provides a list of companies that may be affected by the tariffs.

AUTOMAKERS

AUDI

The Audi plant owned by Volkswagen in San José Chiapa, Mexico, produces the Q5 model and employs over 5,000 people. According to the company's website, the plant assembled nearly 176,000 vehicles in 2023. The Mexican Automotive Industry Association reported that around 40,000 vehicles were exported to the U.S. in the first half of 2024.

BMW

The BMW factory in San Luis Potosí, Mexico, manufactures the 3 Series, 2 Series coupe, and M2 models. Nearly all of the production here is supplied to the U.S. and other countries. Starting in 2027, the factory will produce a fully electric model line called Neue Klasse.

BYD

Chinese electric vehicle manufacturer BYD has been searching for a site to build a factory in Mexico but has repeatedly stated that the factory will serve the domestic Chinese market rather than produce vehicles for sale in the U.S.

HONDA MOTOR

Honda Motor supplies 80% of its production from Mexico to the U.S. market. Chief Operating Officer Shinji Aoyama warned in November that the company would need to consider relocating production if the U.S. imposes tariffs on car imports from Mexico.

JAC MOTORS

Chinese JAC Motors has had a joint venture in Mexico with Giant Motors since 2017 for assembling JAC vehicles. The company SAMG, owned by SAIC, announced plans to build a factory there in August.

KIA CORP

South Korean Kia Corp has a factory in Mexico that produces its vehicles and a small number of Tucson SUVs for its partner Hyundai Motor for export to the U.S.

MAZDA

Mazda reported that it produced approximately 209,000 vehicles in Mexico in 2024, exporting about 60% of them to the U.S.

The company's head, Masahiro Moro, stated in November that tariff issues are not something individual companies can resolve, and Mazda will carefully examine the details before making any decisions on countermeasures.

NISSAN MOTOR

Nissan Motor produces the Sentra, Versa, and Kicks models for the American market at two plants in Mexico. In the first nine months of 2024, the company manufactured nearly 505,000 vehicles in Mexico but did not disclose how many of them were exported to the American market.

STELLANTIS

Stellantis has two assembly plants in Mexico: Saltillo, where Ram pickups and vans are produced, and Toluca, where the Jeep Compass SUV is made.

The Franco-Italian group also owns two assembly plants in the Canadian province of Ontario: Windsor, where Chrysler models are produced, and Brampton, which is currently undergoing retooling and is set to resume production of a new Jeep model in 2025.

TOYOTA MOTOR

Toyota Motor assembles the Tacoma pickup at two plants in Mexico. In 2023, the company sold over 230,000 units of this model in the U.S., accounting for about 10% of its total sales volume in that market. Previously, Toyota manufactured the Tacoma in the U.S., but now all units are sourced from Mexico.

VOLKSWAGEN

The Volkswagen plant in Puebla is the largest automotive manufacturing facility in Mexico and one of the biggest plants in the VW Group, according to the company's website. In 2023, it produced nearly 350,000 vehicles, including the Jetta, Tiguan, and Taos models for export to the U.S.

COMPONENT SUPPLIERS

AUTOLIV

Swedish company Autoliv, the world's largest manufacturer of airbags and seatbelts, reported that it employs around 15,000 people in Mexico but declined to comment on exports to the U.S. from this location.

MICHELIN

Tire manufacturer Michelin has two plants in Mexico (in Querétaro and León) and three in Canada (Pictou, Bridgewater, and Waterville).

YANFENG

Chinese automotive seating manufacturer Yanfeng Automotive Interiors has long been producing products in Mexico, supplying them to automakers such as General Motors and Toyota.

OTHERS

Among other automotive component manufacturers with plants in Mexico servicing vehicle production for the American market are the Italian tire manufacturer Pirelli, premium brake manufacturer Brembo, and Eurogroup Laminations.

Eurogroup Laminations, which counts Tesla among its clients, specializes in the production of stators and rotors—two key components of electric motors and generators.

Tesla recommended that its Chinese suppliers open factories in Mexico in 2023, primarily to supply its planned factory in Mexico.

Tesla initially aimed to start production in Mexico in early 2025 but later shifted to a plan to expand its Texas factory.

ELECTRONICS

FOXCONN

The world's largest contract electronics manufacturer, Taiwanese company Foxconn, in collaboration with Nvidia, is building a massive factory in Mexico for server production for artificial intelligence technologies. Production of liquid-cooled servers containing new and powerful Nvidia Blackwell microchips is expected to begin in early 2025.

LENOVO

Chinese computer manufacturer Lenovo produces servers and other data center products at a large facility in Monterrey, Mexico, which the company expanded in 2021. At that time, the company stated that all its data center products for the North American market are manufactured in Monterrey.

LG ELECTRONICS

South Korean LG Electronics manufactures televisions, home appliances, and components for electric vehicles at its Mexican plants. In November, the company announced that it is considering various options, including changes in trade policy.

SAMSUNG ELECTRONICS

South Korean Samsung Electronics produces televisions and home appliances in Mexico and exports them to the U.S.

FOOD AND BEVERAGE PRODUCTS

CAMPARI

Italian Campari operates three manufacturing sites in Mexico, with the main one producing tequila under the Espolon brand, and one in Canada, where the Canadian whiskey brand Forty Creek is produced, according to a recent company report.

According to Citi, imports from Mexico and Canada account for 27% of Campari’s total sales in the U.S.

CONSUMER GOODS

PROCTER AND GAMBLE AND UNILEVER

Procter & Gamble and Unilever are among the major consumer goods manufacturers that may be affected by tariffs on imports from Mexico, the data suggests.

About 10% of P&G's supply in the three months leading up to the end of September came from products sourced in Mexico, according to import data from ImportYeti. Roughly 2% of Unilever's sea imports to the United States are sourced from Mexico.

Both companies and other major players in the consumer goods sector, such as Pepsico and Lay's chips, have invested hundreds of millions of dollars into Mexican supply chains.

Background. It is worth noting that Trump announced plans to impose a 25% tariff on goods from Mexico and Canada. The U.S. President stated that the new tariffs are intended to curb illegal immigration and smuggling.