Constellation Brands' Shares Drop Amid Tariff Concerns on Beer Prices
Shares of Constellation Brands fell 4% after Donald Trump announced plans for a 25% tariff on Mexican imports, which could increase the cost of Modelo and Corona beers. Constellation, which imports all its beer from Mexico, may raise prices to offset the tariff's impact on its costs. The company is unlikely to move production out of Mexico due to an antitrust agreement. Trump's tariff plans also affected automaker stocks, though it's uncertain if these tariffs will be enacted.