Former President Donald Trump threatened a 200% tariff on John Deere if the company moves production to Mexico. Trump warned that Deere’s shift in manufacturing, which has already led to layoffs in Iowa, would result in hefty tariffs on their products entering the U.S. The company responded by highlighting its commitment to U.S. factories but defended the relocation of less complex operations to other countries. After Trump's remarks, Deere shares fell more than 1% in after-hours trading.
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00:00It's Benzinga, and here's what's on the block.
00:02Former President Donald Trump threatened a 200% tariff on John Deere if the company moves
00:07production to Mexico.
00:09Trump warned that Deere's shift in manufacturing, which has already led to layoffs in Iowa,
00:13would result in hefty tariffs on their products entering the United States.
00:17The company responded by highlighting its commitment to U.S. factories, but defended
00:21the relocation of less complex operations to other countries.
00:25After Trump's remarks, Deere shares fell more than 1% in after-hours trading.
00:29For all things money, visit Benzinga.com.