Donald Trump targeted another automaker on Twitter, and created another ripple in the stock market.
Here’s what Trump tweeted:
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.
— Donald J. Trump (@realDonaldTrump) January 5, 2017
Trump has made similar comments about GM and Ford, saying he will impose tariffs on vehicles companies send over the border that are manufactured outside the United States.
After Trump’s tweet, Toyota dropped 3.1% at its lowest.
Toyota Stock Price Drops After Trump Tweet:
Other Japanese automakers fell in trading, with Honda Motor down 2.4% and Nissan Motor down 2.0%.
Photo – Twitter