GM is considered one of the Big 3 automakers in the United States, but the days of the big Detroit assembly lines are long gone. Like many car manufacturers, GM has outsourced large chunks of its vehicle and parts production to factories outside the United States in countries like Mexico, Canada, Brazil, China, and Argentina. Some of these plants produce critical parts and systems like transmissions, engine blocks, and other smaller components, but many are used for full-scale production of some of GM's best-selling vehicles. 

For example, the Ramos Aripze assembly plant has produced the landmark Chevy Blazer since 1981 (the newer Chevy Equinox is also made here). Other vehicles with at least some full-scale assembly in Mexico include the GMC Terrain, GMC Sierra, and Chevy Silverado. And here's a double whammy – GM brands like Cadillac and Buick also have significant exposure to China. GM is far from the only American carmaker that could face pressure from tariffs, but its stock isn't well-positioned to absorb added costs or a sales slowdown.

Whirlpool is a multinational company with plants and offices worldwide, but given the threat of tariffs, its manufacturing presence in Mexico is hard to ignore. Four of the company's 15 North American production facilities are in Mexico, and in March, it invested $65 million in its Celaya plant. Selling appliances during a volatile trade war can be difficult as many consumers simply put off buying a new dishwasher or fridge in hopes that tariffs will be reduced or their income will rise to meet the higher price. Big ticket items like appliances and cars tend to be most susceptible to tariffs as consumers change their behavior by shopping around or holding out for better deals. 

Constellation Brands sells wine, spirits, and beer, but its breweries are most under fire regarding tariffs. The company exclusively brews beers like Corona, Modelo, and Pacifico in Mexico at two locations, with a third in Veracruz currently in the works. Beers like Corona and Modelo are popular summertime staples, but American consumers have no shortage of beer selections and will simply replace expensive light beer brands with cheaper ones. Additionally, STZ's stock price has been in a downtrend for the better part of the last 12 months, and these headlines certainly don't provide any tailwinds.

Skyworks has a significant manufacturing operation in Mexico. Its Baja California plant houses a state-of-the-art assembly facility, as well as testing and finishing services. The Baja California plant is a key piece in Skyworks’ business model, as most of its products and devices are completed at this location and then shipped to the United States. SWKS share price has slumped since the days of the 2022 bear market and has failed to regain momentum during the AI bull run over the last two years. A renewed focus on tariffs will unlikely expand the company's fortunes.

Becton Dickinson has eight manufacturing plants worldwide, but its North American operations consist of facilities in the United States and Mexico. By now, you've likely sensed the theme—the Mexican facilities represent a significant portion of the company's production, and it recently invested millions of dollars to expand capacity at these locations. Medical products from BDX consist of both big and small ticket items, but the sheer volume coming from Mexico could put a dent in the company's bottom line if strict tariffs are implemented.