VIDEO: Donald Trump Calls Out Toyota For Plans To Build Corolla Cars In Mexico
By FOX NEWS // January 6, 2017
"Toyota looks forward to collaborating with the Trump administration," said Toyota spokesman
ABOVE VIDEO: Trump Issues Warning to Toyota
(FOX NEWS) – U.S. President-elect Donald Trump targeted Toyota Motor Corp on Thursday, threatening to impose a hefty fee on the world’s largest automaker if it builds its Corolla cars for the U.S. market at a plant in Mexico.
“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,” Trump said in a post on Twitter.
It was Trump’s latest broadside against automakers building cars in Mexico and first against a foreign automaker. The president-elect’s attacks on investments by companies in Mexico have cast a shadow over cross-border production networks central to more than $583 billion a year in trade between the two countries.
The value of the Mexican peso has skidded amid fears that Trump’s policies would harm Latin America’s second-biggest economy — and declined Thursday after Trump’s tweet.
Toyota, which announced plans to build a new Mexican facility in Guanajuato in April 2015, said it would not take away from U.S. employment.