Toyota stock dip after Trump tweet on planned Mexico plant
TOKYO - Toyota Motor Corp. stock is skidding in Tokyo trading after President-elect Donald Trump said on Twitter that the Japanese automaker faces a "big border tax" if it goes ahead with plans on a new Mexico plant.
Toyota shares fell 2 percent in Friday morning trading.
Toyota in Japan had no further comments beyond what it released in the U.S., which did not directly address Trump's tweet but stressed that Toyota has been in the U.S. for six decades and that the Mexico plant will not affect jobs or production in the U.S.
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">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.</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/817071792711942145">January 5, 2017</a></blockquote>
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Toyota President Akio Toyoda made similar comments Thursday, ahead of the tweet, telling reporters at a New Year's gathering for auto businesses that Toyota is a "good corporate citizen" and, like Trump, wants to make "America strong."