U.S president elect
Donald Trump took to his Twitter handle this evening to reveal that he'll
impose huge border tax on car production company, Toyota, if they decide to
build a manufacturing plant in Mexico rather than the U.S.
According to Trump, Toyota had made plans to start producing Corolla cars in its Mexico plant for the U.S market, something the president elect clearly doesn't like as he hopes to keep up with his 'jobs jobs' mantra.
Just after Donald Trump threatened to impose huge taxation on Toyota if they don't produce cars in the US, Toyota's shares sharply dropped on the US stock market.
The car manufacturing company took their official website and Twitter to reply Trump.
In 2015 Toyota exported
more than 160,000 U.S.-built vehicles to 40 countries, helping to establish the
U.S. as a global export hub.
• Our manufacturing facilities in Baja, Mexico, established in 2002, support production at our San Antonio, Texas plant, where 3,300 team members produced over 230,000 Tundras and Tacomas in 2016.
• Recent manufacturing expansions by Toyota in the U.S. include:
◦ $360 million investment in Toyota’s Georgetown, Kentucky plant, adding 750 new jobs
◦ $150 million investment at its Huntsville, Alabama plant
◦ $100 million investment in Toyota’s Princeton, Indiana plant, adding 300 jobs
◦ $90 million investment at its Buffalo, West Virginia plant, adding 80 jobs
• Our manufacturing facilities in Baja, Mexico, established in 2002, support production at our San Antonio, Texas plant, where 3,300 team members produced over 230,000 Tundras and Tacomas in 2016.
• Recent manufacturing expansions by Toyota in the U.S. include:
◦ $360 million investment in Toyota’s Georgetown, Kentucky plant, adding 750 new jobs
◦ $150 million investment at its Huntsville, Alabama plant
◦ $100 million investment in Toyota’s Princeton, Indiana plant, adding 300 jobs
◦ $90 million investment at its Buffalo, West Virginia plant, adding 80 jobs
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