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Trump: Toyota Faces Big Tax if it Builds Corolla Cars for U.S. in Mexico

US President Elect Donald Trump On Thursday Turn His Attention To Toyota Motor, Threatening To Impose a Hefty Fee On Them If It's Corolla Car For US Market Is Build At Mexico Plant.
"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," Trump said in a post on Twitter.
This was Trump's latest broadside against automakers building cars in Mexico and first against a foreign automaker. The president-elect's attacks on investments by companies in Mexico have cast a shadow over cross-border production networks central to more than $583 billion a year in trade between the two countries.
The value of the Mexican peso has skidded amid fears that Trump's policies would harm Latin America's second-biggest economy.
Toyota, which announced its plan to build a new Mexican facility in April 2015, said the plant in Guanajuato city would not take away from U.S. employment.
"Toyota looks forward to collaborating with the Trump administration to serve in the best interests of consumers and the automotive industry," Toyota spokesman Scott Vazin said.

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