President-elect Donald Trump announced on Monday his plans to impose tariffs on the U.S.’s three biggest trading partners – Canada, Mexico, and China. This move is a part of his campaign promises, and it could potentially spark trade conflicts.

Here’s an overview of the companies that might be affected, broken down by sector and listed alphabetically:

AUTOMOBILE INDUSTRY

AUDI

Volkswagen’s Audi factory in San Jose Chiapa, Mexico, which employs slightly over 5,000 people, manufactures the Q5. In 2023, the factory churned out nearly 176,000 cars, as per their website. In the first half of 2024, roughly 40,000 vehicles were exported to the U.S., according to the Mexican Automotive Manufacturers Association.

BMW

The BMW factory in San Luis Potosi, Mexico, produces the 3 Series, 2 Series Coupe, and M2. Almost all of its production is targeted toward the U.S. and other global markets. The company plans to produce their all-electric ‘Neue Klasse’ model line from 2027.

BYD

BYD, a Chinese EV manufacturer, has been scouting locations to construct a factory in Mexico. However, it has repeatedly stated that this factory will cater to the Mexican market and will not produce cars for sale in the U.S.

HONDA MOTOR

Honda Motor sends 80% of its Mexican output to the U.S. market. COO Shinji Aoyama expressed concerns on Nov. 6 about the need to reconsider production strategies if the U.S. decides to impose permanent tariffs on vehicles imported from Mexico.

JAC MOTORS

Since 2017, JAC Motors has had a joint venture with Giant Motors in Mexico to assemble JAC brand vehicles. SAIC-owned MG announced plans in August to construct a factory in the country.

KIA CORP

Kia Corp, a South Korean company, has a Mexican factory that manufactures its own vehicles and a minor quantity of Santa Fe SUVs for its affiliate Hyundai Motor, intended for U.S. exports.

MAZDA

In 2023, Mazda exported around 120,000 vehicles from Mexico to the U.S. Mazda President Masahiro Moro stated on Nov. 7 that the tariff issue is a complex problem, and the company would analyze the details before deciding on its response.

NISSAN MOTOR

Nissan Motor has two factories in Mexico where it manufactures the Sentra, Versa, and Kicks models for the U.S. market. In the first nine months of 2024, it produced nearly 505,000 vehicles in Mexico. However, the company did not reveal how many of these were exported to the U.S. market.

STELLANTIS

Stellantis runs two assembly factories in Mexico: one in Saltillo, producing Ram pickups and vans, and one in Toluca, producing the Jeep Compass mid-sized SUV. The Franco-Italian group also owns two assembly plants in Ontario, Canada: one in Windsor, where Chrysler models are made, and another in Brampton, which is currently being retooled and is expected to start production in 2025 with a new Jeep model.

TOYOTA MOTOR

Toyota Motor manufactures its Tacoma pickup truck at two plants in Mexico. In 2023, it sold more than 230,000 of these trucks in the U.S., which constituted about 10% of its total sales in that market. Toyota shifted the production of Tacoma from the U.S. to Mexico, which now accounts for a majority of the production at these plants.

VOLKSWAGEN

Volkswagen runs the largest auto plant in Mexico, based in Puebla, which is also one of the largest in the VW Group, as per the company’s website. In 2023, it manufactured nearly 350,000 cars, including the Jetta, Tiguan, and Taos, all of which were exported to the U.S.

AUTO SUPPLIERS

AUTOLIV

Autoliv, a Swedish company and the world’s largest maker of airbags and seat belts, employs around 15,000 staff in Mexico. The company did not comment on its exports to the U.S. from Mexico.

MICHELIN

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

YANFENG

Yanfeng Automotive Interiors, a Chinese seat maker, has been manufacturing in Mexico for years to supply automakers like General Motors and Toyota, which relocated their capacity to Mexico to cut costs.

OTHERS

Other parts makers with factories in Mexico that serve the U.S. automotive production market include Italian tire maker Pirelli, Italian premium brake maker Brembo, and Italy’s Eurogroup Laminations, which counts Tesla among its clients. Eurogroup Laminations specializes in stators and rotors, two crucial components of electric motors and generators.

American car manufacturer Tesla encouraged its Chinese suppliers to establish factories in Mexico in 2023, mainly to supply its planned Mexican factory. Tesla had initially planned to begin production in Mexico in early 2025, but has mostly shifted to an expansion plan for its Texas plant.

ELECTRONICS

FOXCONN

Foxconn, the world’s largest electronics contract manufacturer, is constructing a massive artificial intelligence server factory in collaboration with Nvidia in Mexico. It plans to commence production in early 2025, creating a liquid-cooled server containing Nvidia’s powerful new Blackwell family of AI chips.

LENOVO

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

LG ELECTRONICS

South Korea’s LG Electronics manufactures TVs, home appliances, and EV parts at its Mexican sites. On Nov. 26, it stated that it is considering various possibilities, including changes in trade policies.

SAMSUNG ELECTRONICS

South Korea’s Samsung Electronics produces TVs and home appliances in Mexico and exports them to the U.S.

FOOD & DRINK

CAMPARI

Italian spirits group Campari operates three production sites in Mexico, the main one producing Espolon brand tequila, and one in Canada, producing Forty Creek Canadian whisky, according to their latest sustainability report. Campari imports 27% of its U.S. sales from Mexico and Canada, as per Citi.

RETAIL

Swedish fast-fashion retailer H&M stated that it is “continuously reviewing risks linked to tariffs”. China is one of H&M’s biggest manufacturing markets, and it sells its products in the United States. The company stated, “We are focusing on securing our processes to minimize any negative impact on our supply chain so that we can continue serving our store and online customers in the US going forward.”

PACKAGED GOODS COMPANIES

Companies such as Procter & Gamble and Unilever are among the large packaged goods companies exposed to tariffs on imports from Mexico. According to import data provider ImportYeti, about 10% of P&G’s shipments in the three months to end-September came from Mexico. Around 2% of Unilever’s sea imports into the United States are from Mexico. These companies, along with other large consumer groups such as Pepsico and Lay’s chips, have collectively invested hundreds of millions of dollars in their Mexican supply chains.