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The appointment came as Donald Trump renewed his vow to raise tariffs on imports from China, Mexico and Canada.
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Constellation Brands' stock fell as the parent of the Modelo and Corona beer brands could be among the companies most impacted by President-elect Donald Trump's plan to impose tariffs on imports from Mexico.
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Leaders in Mexico and Canada responded to the president-elect's proposed new tariffs. Observers said the plan might just be the first step in negotiations.
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The approach is more like a marathon than a sprint, focused on making the country's economic framework more durable and resilient
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President Trump threatened to slap hefty tariffs on three of America's biggest trading partners. Similar threats in the past haven't always been carried out.
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The president-elect's threat to hit Canada, Mexico and China with new tariffs is already rocking business and diplomatic relationships and could topple the trade pacts he signed in his first term.
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Automakers and parts suppliers would struggle if President-elect Donald J. Trump followed through on his threat to impose 25 percent tariffs on imports from Canada and Mexico.
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Automakers like General Motors and Stellantis have major production presences in Mexico and could take a hit from tariffs.
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