John Deere is the latest company to draw the ire of former President Donald Trump for investing south of the U.S. border. At an event Monday in the battleground state of Pennsylvania, the Republican nominee threatened the company with a “200% tariff” if it shifts some production to Mexico as planned, causing the stock to briefly sag in after-hours trading.
Facing rising costs and declining demand, John Deere announced earlier this year that it would lay off over 800 workers across factories in Illinois and Iowa. The company has also bought land in Ramos, Mexico, for a new facility that will take over production currently done at its plant in Dubuque, Iowa.
