Trump Threatens 200% Tariff on John Deere Imports Over Mexico Move

Donald Trump, Republican presidential candidate, announced a threat to impose a 200% tariff on John Deere imports if the company moves production to Mexico. Trump's statement emphasizes protecting American jobs, a critical issue for his voter base, especially amid a tight race against Democratic nominee Kamala Harris.

Republican presidential candidate Donald Trump announced on Monday his intention to impose a 200% tariff on John Deere's imports into the United States if the agricultural equipment company proceeds with plans to move production to Mexico. Speaking at an event in western Pennsylvania, Trump stated, "I am just notifying John Deere right now that if you do that, we are putting a 200% tariff on everything that you want to sell into the United States."

John Deere recently declared layoffs in the Midwest and plans to expand production in Mexico, a move that has angered workers and political leaders. While Trump has previously threatened automakers with such tariffs, this marks his first warning to an agricultural equipment manufacturer. The announcement caused John Deere shares to fall more than 1.5% in after-hours trading.

Additionally, Trump vowed to press Chinese President Xi Jinping to follow through on a deal to buy $50 billion of U.S. agricultural goods. The initial agreement, part of the "Phase 1" trade deal during his first term, saw China commit to purchasing American agricultural products, but actual purchases fell short. The announcement underscores the importance of farm and industrial worker support for Trump's electoral prospects, particularly in the critical battleground state of Pennsylvania.

(With inputs from agencies.)