Trump threatens John Deere with 200% tariffs if it moves production to Mexico | Wilnesh News

Former President Donald Trump threatened on Monday John Deere If agricultural manufacturers move production to factories in Mexico, they are subject to a 200% tariff.

“They announced a few days ago that they were going to move most of their manufacturing to Mexico,” the Republican candidate said at a policy roundtable hosted by the Protect America Initiative in Smithton, Pennsylvania.

“I’m just telling John Deere right now: If you do this, we’re going to put a 200% tariff on everything you want to sell into the United States,” said Trump, who has made tariffs a key focus of his campaign. economic policy.

John Deere has declare The company plans to move production of some models to Mexico, a move that has resulting in layoffs at an Iowa facility.

“It hurts our farmers. It hurts our manufacturing,” Trump said on Monday.

In an interview with CNBC, a John Deere spokesperson pointed out that there is a page on its website website Titled “John Deere’s Commitment to American Manufacturing,” it touts its investment in American factories and workers.

The page also says, “In order to enable our U.S. facilities to undertake these high value-added activities, it will sometimes be necessary to move less complex operations, such as cab assembly, to other locations.”

Monday appeared to be the first time Trump mentioned John Deere by name. The former president’s comments appeared to be off-the-cuff, prompted only by the presence of a John Deere tractor as the backdrop for the event.

Deere shares fell 1.7% in after-hours trading as of 6 p.m. ET. Trump issued the threat shortly after the market closed.

The former president issued a similar threat on Monday to automakers that build vehicles in Mexico.

“We’re going to have high tariffs of 100 to 200 percent on those cars that come in here and they’re not going to be competitive anymore,” he said, “so you’re better off staying in Michigan.”