Michelin Assesses Impact of Potential U.S. Tariffs on North American Operations
Michelin, the French tire manufacturer, is evaluating the potential consequences of proposed U.S. tariffs on Canada and Mexico on its supply chain and investments. While most of the tires sold by Michelin in the United States are produced domestically, the company acknowledges its significant presence in the region with 35 facilities.
The threatened trade measures have prompted European companies with operations in North America to review their production and pricing strategies. Michelin employs over 23,500 individuals across its production sites in the U.S. and Canada, and operates two plants in Mexico and three in Canada. The North American market accounts for approximately 39% of Michelin's annual sales.
"If confirmed, these measures could potentially impact the Group's sourcing and investment strategy," a Michelin spokesperson said.
Michelin is expected to release its 2024 financial results on February 12th.