Former President Donald Trump on Monday threatened John Deere with a 200% tariff if the agricultural manufacturer moves production to factories in Mexico.
“They’ve announced a few days ago that they’re going to move a lot of their manufacturing business to Mexico,” the Republican nominee said at a policy roundtable in Smithton, Pennsylvania, hosted by the Protecting America Initiative.
“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 made tariffs a key focus of his campaign’s economic policy.
John Deere has announced that it plans to shift production of some of its models to Mexico, a move that has resulted in layoffs at facilities in Iowa.
“It’s hurting our farmers. It’s hurting our manufacturing,” Trump said Monday.
Reached by CNBC for comment, a John Deere spokesperson pointed out a page on its websitetitled …