U.S. President Donald Trump announced a 5-percent tariff on all goods coming from Mexico, demanding the country curb illegal immigration into the U.S.
Trump has long accused Mexico of not doing enough to stem the flow of illegal drugs and immigrants, and this is his latest attempt to put pressure on Mexico. Jesús Seade, Mexico's diplomat for North America, said the proposed tariffs would be "disastrous."
Here is a list of U.S.-traded Mexico-based stocks that could feel the impact:
- Mexico exchange-traded funds include the iShares MSCI Mexico Inv. Mt. Idx (NYSE: EWW) and iShares S&P Latin America 40 Index (NYSE: ILF).
- America Movil SAB de CV ADR Series L (NYSE: AMX) is a telecommunications corporation headquartered in Mexico City, Mexico. It's the eighth largest mobile network operator in terms of equity subscribers.
- Cemex SAB de CV ADR (NYSE: CX) is a multinational building materials company headquartered in San Pedro, near Monterrey, Mexico. It manufactures and distributes cement, ready-mix concrete and aggregates in more than 50 countries.
- Industrias Bachoco, S.A.B. de C.V. (NYSE: IBA) is a poultry producer. Its primary operations include preparing feed, breeding and growing chickens and processing and distributing chicken products.
- Banco Santander Mexico Sa Instcn De (NYSE: BSMX) is a Mexican banking group and a subsidiary of Spanish bank Banco Santander.
- Coca-Cola FEMSA, S.A.B. de C.V. (NYSE: KOF) is a multinational beverage company headquartered in Mexico City.
- Fomento Economico Mexicano SAB (NYSE: FMX) is a multinational beverage and retail company headquartered in Monterrey. It operates the largest independent Coca-Cola bottling group in the world and the largest convenience store chain in Mexico.
- Grupo Aeroportuario del Centro Nort (NASDAQ: OMAB), also known as OMA, is a Mexican airport operator headquartered in San Pedro, near Monterrey. It operates 13 airports in the central and northern states of Mexico, including that of Monterrey, one of Mexico's largest cities.
Momentum ETFs Dinged By Market Pullback
See more from Benzinga
- Big Lots Shares Rise 12% On Q1 Earnings Beat
- Report: Mantle Ridge May Be Looking To Buy Aramark
- Report: Juul Could Open Its Own US Stores
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.