Investing.com – President Donald Trump’s comments on potential 25% tariffs targeting imports from Canada and Mexico have raised concerns among European companies with supply chains in those two countries, but greater revenue from asset exposure to the United States.
In a note Thursday, Bank of America (BOFA) highlighted dozens of European companies that are particularly vulnerable to these tariffs due to their supply and revenue chains.
Among these is Stellantis (NYSE:), the Italian automobile manufacturer. According to BOFA, the company has 16 supply chain links in Canada and earns 47% of its revenue from North America (NA), although no significant exposure to assets in the US is reported.
Likewise, BMW (ETR:), another automotive giant from Germany, has 18 supply chain links in Canada and derives 26% of its revenue from the US, while its asset exposure to the US sits at AST 18%.
National network (LON:), a UK utility company with a market cap of €58 billion, has a large US footprint, with 50% of its assets and 54% of its revenues tied to the region. Although tangible supply chain links in Mexico and Canada are minimal, its heavy exposure in the United States makes it vulnerable to tariff disruptions.
In the industrial sector, Switzerland Holcim (Six:) relies on NA markets for 39% of its revenue, along with 5 Canadian and 3 Mexican supply chain links.
Spanish Ferrovial, which generates 50% of its revenue from the US, appears on BOFA’s radar, although supply chain links in the two target countries are barely there.
Other notable mentions include: Tenaris (Bit:), an Italian energy company, with 9 supply chain links in Canada and Mexico, and 52% of its revenues linked to North America. Moreover, Denmark Wind Vestas Systems (CSE:) has 14 supply chain links in Canada and derives 37% of its revenue from NA.
Even the healthcare sector is showing exposure. Switzerland-based Lonza Group AG maintains four connections in its Canadian supply chain while generating 32% of its revenue from the United States.
German chemical company Brenntag AG (ETR:) has Canadian and Mexican supply chain links, along with 36% US exposure, while Swiss giant Nestle SA (Six::) operates 8 Canadian and 10 Mexican supply chain links and earns 35% of its revenue Who are we?
Other companies listed by BOFA are AstraZeneca (NASDAQ:), ABB Ltd (ST:), Mercedes Benz Group AG (ETR:), Volkswagen (ETR:), Epiroc (ST:::::::::::: :::::
