Mexican companies have found a way to bypass the tariffs imposed by the United States by trading directly with Canada, a country with which there is no trade war. This strategy has allowed them to avoid additional fees and maintain their operations without issues. The end of the first quarter of 2025 has been revealing for publicly traded companies, which can now more accurately assess the impact of the tariffs set by the White House.
Mattel has also presented its financial reports, while Mexican bankers are preparing to meet in Vallarta, Nuevo Nayarit, to discuss the business situation in Mexico. JP Morgan, the largest bank in the United States, has expressed optimism about the growth potential of Banorte and has rated it as 'overweight'. Despite some pessimistic views on investment in Mexico, business leaders like Jim Farley from Ford have expressed confidence in the stability of their operations in the country.
Ford, for example, has confirmed that it does not plan to adjust its production in Mexico and continues to export to Canada through the United States despite the tariffs. The company has implemented logistical measures to keep its shipments running smoothly, ensuring that vehicles manufactured in Mexico are functioning properly. Given the current scenario of international trade tensions, the company faces additional costs but continues to operate efficiently.
The distancing between the United States and China, exacerbated by Ford's export detention to China, raises questions about the future of manufacturing in Mexico. Despite Chinese competition, Mexican exports have maintained steady growth, which has been vital for the country's economy. With the possibility of this decoupling between the United States and China persisting, U.S. manufacturing companies could find in Mexico a strategic ally to sustain their production internationally.
