Trump Threatens Toyota: "Build New Plant In The US Or Pay Big Border Tax"

Poor Mexico just can't catch a break.

After its currency crashed to record lows this week after Ford cancelled plans to build a $1.6 billion plant in Mexico, prompting the central bank to intervene and sell $1 billion USD to stabilize the currency, moments ago Trump lobbed another shot at Mexico, this time threatening Toyota with paying a big border tax if it building its new pant in Baja instead of the US.

Just around 1:15pm Eastern, 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"

Sure enough the selling in the Peso has resumed, and it is now back to where it was before Banxico wasted $1 billion in reserve to push it higher.

 

It's not just the peso though: TOYOTA ADRS DROP TO SESSION LOW ON TRUMP TWEET.