Former President Donald Trump threatened agricultural manufacturer John Deere with a 200% tariff if it moves some of its production to factories in Mexico. This follows John Deere's plans to shift production of some models to Mexico, resulting in layoffs at facilities in Iowa.
Former President Donald Trump threatened John Deere with a 200% tariff if the agricultural manufacturer moves some of its production to factories in Mexico .
John Deere plans to shift production of some of its models to Mexico, a move that has resulted in layoffs at some facilities in Iowa. "They've announced a few days ago that they're going to move a lot of their manufacturing business to Mexico," the"I'm just notifying John Deere right now: If you do that, we're putting a 200% tariff on everything that you want to sell into the United States," said Trump, who has madeSign up for NBC New York's News Headlines newsletter.The page also said,"In order to position our U.S.
Monday appeared to be the first time Trump had singled out John Deere. The former president's comments appeared to be off the cuff, prompted only by the John Deere tractors that were set up as the backdrop of the event. As of 6 p.m. ET, shares of Deere were down 1.7% in after-hours trading. Trump made the threat shortly after the closing bell."We're going to put big tariffs on those cars that are coming in here at 100 to 200%, and they're no longer going to be competitive," he said,"so you better stay in Michigan."
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