Donald Trump threatens Toyota with hefty fees if it sets up American base in Mexico
U.S. President-elect Donald Trump has threatened to impose hefty fees on Toyota Motor Corporation if the Japanese automaker builds its Corolla cars for the American market in Mexico.
Trump delivered the threat in a tweet that told Toyota to “Build plant in U.S. or pay big border tax.”
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
The automaker’s stock on the New York Stock Exchange fell 0.5 percent after the tweet.
The threat was Trump’s latest broadside against automakers building cars in Mexico. Toyota had no immediate comment.
Toyota President Akio Toyoda said in Japan on Thursday that the automaker has no plans to curb production in Mexico.
Toyoda said he preferred to wait until after Trump’s January 20th inauguration before deciding whether to make any changes.
