Trump Threatens 200% Tariff on John Deere's Mexican Imports Amid Manufacturing Shift

Donald Trump announced a 200% tariff on John Deere's U.S. imports if the company moves production to Mexico. John Deere's decision to lay off workers and expand Mexican operations upset many. Shares fell 1.5% after his remarks. Trump plans to enforce similar tariffs across industries to protect American jobs.

Donald Trump announced on Monday a 200% tariff on John Deere's imports into the United States should the company proceed with its planned production shift to Mexico, a move that impacted the agricultural equipment manufacturer's share price.

John Deere recently disclosed plans to lay off hundreds in the Midwest and boost its Mexican production capacity, drawing ire from employees and political figures. Trump reiterated his stance on tariffs during an event in western Pennsylvania, emphasizing his commitment to safeguarding American jobs.

John Deere's shares dropped over 1.5% in after-hours trading following Trump's remarks, despite closing up 0.75%. Trump's campaign emphasizes extensive tariffs as a cornerstone of his economic strategy to curb foreign competition and protect domestic employment, though economists warn this could inflate prices.

(With inputs from agencies.)