The United States has implemented tariffs against Mexico that will have a considerable impact on several companies, according to an analysis by Barclays. Among the most affected are Becle, Alsea, Kimberly Clark, Liverpool, and Chedraui, while Arca Continental, Coca-Cola Femsa, Gruma, Bimbo, Femsa, and Walmart will experience a lesser impact.
In particular, Becle, the owner of Cuervo tequila, will be especially affected by the tariffs, representing an impact of 80 million dollars, equivalent to 15-20 percent of the estimated operating cash flow for 2025, according to the Barclays report.
On the other hand, Alsea, a company that operates brands like Starbucks and Domino's, will face cost pressures, import tariffs, and exchange rate volatility, which will affect its gross margins in the short term due to the current situation.
Regarding Chedraui, which operates in Mexico and the United States, the transition of its new logistics operation in California, combined with the implementation of tariffs, could generate temporary pressures on the company's margins, which has already closed three of the five distribution centers it had in California.
On the other hand, some companies like FEMSA, Gruma, Arca Continental, Coca-Cola FEMSA, and Grupo Bimbo will face more limited impacts due to their diversification, hedging strategies, and international presence, as part of their expenses are denominated in dollars, mitigating the effect of the tariffs.
However, companies like Kimberly-Clark de México will be impacted, as nearly 66 percent of their cost of goods sold are denominated in dollars, and a possible depreciation of the peso would exert pressure on their margins. In the case of Liverpool, the company could be significantly affected, as a significant percentage of its inventories are imported directly from China or are indirectly linked to that country.
