Toyota Stock Hits A Pothole After Trump Rebukes Japanese Automaker
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Although Toyota sought to stem the damage from President-elect Donald Trump’s Thursday tweet denouncing the construction of a new plant in Mexico, the Japanese automaker suffered a setback on Wall Street.
Reported by Western Journalism:
Trump posted Thursday that Toyota would pay a hefty “border tax” if it didn’t build the plant in the United States.
Back in September, Toyota announced that it would spend $150 million at the Baja plant to boost output of its Tacoma pickup truck. The company has also said it seeks to invest $1 billion in a new Corolla plant at Guanajuato that would produce 200,000 vehicles per year for sales throughout North America. The plant would employ 2,000 people.
Trump’s fingers had barely stopped sending the tweet when Wall Street felt its impact.
H/T: READ FULL STORY AT WESTERN JOURNALISM