General Motors and a few other companies make as much as 40 percent of their North American cars and trucks in Canada and Mexico, leaving them vulnerable to tariffs.

Mexican President Claudia Sheinbaum on Saturday ordered retaliatory tariffs in response to the U.S. decision to slap 25% tariffs on all goods coming from Mexico, as a trade war broke out between the two neighbors.

Mexico and the United States have reached a one-month agreement to stave off tariffs and a trade war, the threat of which sent global markets tumbling early Monday. The tariffs on Mexico were set to go into effect Tuesday.