Toymaker Lego’s incoming CEO, Bali Padda, has said it is still too soon to take business investment decisions based on what President-elect Trump’s trade policies will be, Bloomberg reports. Lego currently manufactures for the U.S. market out of Mexico and has committed to expanding there. The new administration’s trade policy is far from nailed down, but at least for now sees tariffs against Mexico as only part of its negotiating stance.

Lego follows a local manufacturing approach that has also seen it start production in China, as discussed in Panjiva research of November 29. It has already committed to 3,000 more jobs in Mexico.

Despite this its exposure to Mexico-to-U.S. trade flows, and hence NAFTA renegotiations, is low in a group context for now. It exported $375 million of products to the U.S. in the 12 months to October 31, Panjiva data shows, or 7% of around $5.4 billion of revenues based on annualized first half revenues. Lego’s exports from Mexico to the U.S. fell 10.8% on a year earlier in October in volumes terms after falling 26.3% in September. This may reflect a reduced popularity of the toys ahead of the holiday gift-giving season.

Chart shows exports of all products associated with company search ‘Lego’ from Mexico. Lower panel shows annual change in exports to U.S. Source: Panjiva