Only a couple years ago, manufacturers were fighting for space to relocate their operations to Monterrey, an industrial city in Mexico’s northeast, as they sought to move closer to the US and its vast consumer market.

Trump has vowed to impose 25% tariffs on all imports from Canada and Mexico, with 10% for Canadian energy. CEOs and economists say the action, covering more than $900 billion worth of annual U.S. imports from its southern and northern neighbors would deal a serious setback to the highly integrated North American economy.