No automaker is free from criticism from Trump if they’re planning on outsourcing.
Ford was the first to be targeted by The Donald as far back as his campaign, and just two days ago announced plans to cancel a plant in Mexico. Then General Motors became a target of Trump, and today, Toyota.
As Red State Watcher reported:
On Thursday, Donald Trump tweeted that Toyota would be building a plant in Mexico and would sell Corolla’s back to the US. Trump’s tweet threatened a big border tax for them if they did so and Toyota shares were immediately affected.
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.
— Donald J. Trump (@realDonaldTrump) January 5, 2017
Their stock price immediately took a dive.
The president-elect’s tweets about Lockheed Martin, Boeing, and General Motors have previously sent the respective companies’ stocks tumbling, even if only temporarily.
Trump has influenced business before, such as Carrier, and the aforementioned Ford. In response to Trump’s tweet, Toyota said in a statement to Reuters that the new Mexican plant will not cut its U.S. employment, adding that it “looks forward to collaborating with the Trump administration to serve in the best interests of consumers and the automotive industry.”
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