Trump takes aim at Toyota
President-elect Donald Trump tweeted his displeasure at carmaker Toyota on Thursday, threatening to impose taxes on the Japanese company if they produce their Corolla model in Mexico.
'Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY!" tweeted the president-elect. "Build plant in U.S. or pay big border tax."
Immediately following the tweet, shares of Toyota dove slightly into the red, down 0.5% as of 1:27 p.m. ET.
STOCK PRICE FOR TM
The drop is similar to the falls of Lockheed Martin, Boeing, and General Motors after similar critical tweets from Trump.
Since his election, Trump has been touting his "America First" economic agenda by pushing companies to keep jobs and production in the US. For instance, he managed to persuade United Technologies to keep hundreds of jobs related to the production of its Carrier air conditioners in Indiana by giving the company $7 million in tax incentives.
This is the second time in a week that Trump has gone after an automaker. Trump attacked GM on Tuesday for supposedly moving production of its Cruze model to Mexico despite all US-sold Cruzes being built in Ohio.
NOW WATCH: Watch Yellen explain why the Federal Reserve decides to raise rates
RELATED: Donald Trump's most offensive tweets about Mexico
See Also:
