The ex-President has threatened to impose a hefty 200% tariff on the company if it proceeds with its plans to shift production to Mexico.
According to CNBC, Trump made this announcement at a policy roundtable in Smithton, Pennsylvania, hosted by the Protecting America Initiative. "They've announced a few days ago that they're going to move a lot of their manufacturing business to Mexico," Trump stated. He further cautioned, "I'm just notifying John Deere right now: If you do that, we're putting a 200% tariff on everything that you want to sell into the United States." This tariff-centric approach is a key component of Trump's economic policy.
John Deere, a leading name in the agricultural sector, recently revealed its intention to relocate the production of some of its models to Mexico. This decision has already led to job losses at its Iowa facilities. Trump expressed his concern over this move, stating, "It's hurting our farmers. It's hurting our manufacturing."
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When CNBC reached out to John Deere for a response, a spokesperson directed them to a page on their website titled "John Deere's Commitment To U.S. Manufacturing." The page highlights the company's investments in American factories and workers. It also mentions, "In order to position our U.S. factories to undertake these highly value-additive activities it is sometimes necessary to move less complex operations, such as cab assembly, to other locations."
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This is the first instance of Trump singling out John Deere, with his comments seemingly spontaneous, triggered by the sight of John Deere tractors at the event. Following Trump's announcement, Deere's shares fell by 1.7% in after-hours trading.
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Trump didn't stop at John Deere. He extended similar threats to automakers manufacturing cars in Mexico. "We're going to put big tariffs on those cars that are coming in here at 100[%] to 200%, and they're no longer going to be competitive," he warned, "so you better stay in Michigan." This move underscores Trump's commitment to protecting American manufacturing and jobs, a cornerstone of his conservative economic policy.
