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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 into slightly into the red, down 0.5% as of 1:27 p.m. ET. The drop is similar to the falls of Lockheed Martin, Boeing, and General Motors after similar critical tweets from Trump.
This is the second time in a week that Trump has gone after an automaker. Trump attacked GM on Tuesday for possibly moving production of its Cruze model to Mexico.
More to come…