Exporters and other businesses operating in Mexico are increasingly concerned about the trade policies of US President-elect Donald Trump. They fear his return to the White House in January may see their goods hit with higher tariffs.

Trump has suggested his administration will take the measure to protect domestic manufacturing industries and employment.

He has shown a particularly tough stance toward Mexico, the world's top exporter to the United States in value terms.

Many firms have set up production bases in Mexico in light of relatively low labor costs and the removal of tariffs on US-bound products that meet certain conditions.

An exhibition featuring about 570 firms from around the world opened in the central Mexican state of Queretaro on Thursday.

A sales manager of a US auto parts maker with production bases in Mexico suggested higher tariffs would significantly impact the corporate infrastructure of all companies.

A senior auto industry group member suggested waiting until Trump's inauguration on January 20 to decide how to respond.

There were also fears about additional tariffs slowing down Mexico's GDP growth.

Japanese companies have in recent years ramped up their investments in Mexico. They had about 1,500 business bases in the country as of October 2023.