Republican presidential candidate and former president Donald Trump speaks during a campaign event at a farm in Smithton, Pennsylvania, Monday, Sept. 23, 2024.
Alex Brandon | AP
Former President Donald Trump on Monday John Deere Agricultural manufacturers that move production to Mexican factories will be subject to a 200% tariff.
“They announced a few days ago that they’re going to move a lot of their manufacturing to Mexico,” the Republican candidate said at a policy forum hosted by the Protecting America Initiative in Smithton, Pennsylvania.
“I’m putting John Deere on notice now: if they do this, I will put a 200 percent tariff on everything they want to sell into the United States,” said Trump, who has made tariffs a central economic focus of his campaign.
John Deere is Announced The company plans to shift production of some models to Mexico, but the move led to dismissal At a facility in Iowa.
“This is hurting our farmers. This is hurting our manufacturing,” Trump said Monday.
When reached for comment by CNBC, a John Deere spokesperson said: Website The report, titled “John Deere’s Commitment to American Manufacturing,” touts investment in American factories and workers.
The page also states that “to enable these higher value-added activities to be performed in U.S. factories, it may be necessary to shift less complex operations, such as cab assembly, elsewhere.”
Monday appeared to be the first time Trump had specifically named John Deere, with the former president’s comments appearing to be impromptu, prompted by a John Deere tractor that served as a backdrop for the event.
Deere shares were down 1.7% in after-hours trading as of 6 p.m. ET. Trump made the threat shortly after the market closed.
The former president made a similar threat Monday to automakers that build cars in Mexico.
“We’re going to put a big tariff on cars imported for $100.[%] “When you go up to 200 percent, you’re no longer competitive,” he said, “so you’re better off staying in Michigan.”