Deere drops 2% as Trump threatens 'a 200% tariff' if it shifts business to Mexico
The former president warned that if the agricultural machinery manufacturer shifts a significant portion of its production to Mexico, the company would face substantial tariffs on its goods sold in the United States.
In June, John Deere announced that approximately 610 production staff across its facilities in Illinois and Iowa would be laid off by the end of the summer. The company is reducing its workforce by about 280 workers at its East Moline, Illinois plant and 230 employees at its Davenport, Iowa factory.
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