0928 GMT - European brewers Heineken and AB InBev will likely face a modest hit from President Trump's order to impose 25% tariffs on imports from Mexico and Canada, Jefferies analysts say in a note. Mexican imports represent a small amount of Heineken's overall sales, while AB InBev's local production in Mexico and Canada will help to mitigate charges, they say. Mexico represents around 20% of Heineken's profit and 10% of AB Inbev's. "Similar to during Covid, we believe that large companies' supply chains can better adapt to volatility," they say. However, it remains to be seen what retaliatory measures with arise, the analysts note. Heineken shares are down 2.2% and AB InBev falls 1.4%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 04:28 ET (09:28 GMT)
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