Previous President , Donald Trump , threatened to hit , U. S.  , farm equipment maker , Deere &, Co.  , with steep taxes if the company moves manufacturing to , Mexico , during an event on American producers and business.
” I’m just notifying , John Deere , right now, if you do that, we’re putting a 200 % tariff on everything that you want to sell into the United States”, Trump said Monday, citing reports about the company shifting manufacturing to , Mexico.
Deere , earlier this year said it would lay off 503 staff in , Illinois , and 310 in , Iowa , as it faces rising operating expenses and declining need. It’s even acquiring territory in , Mexico , to change some manufacturing previously done in the , U. S.
Deere , stock fell more than 2 % in after-market buying in , New York , before paring costs.
The world’s leading farm equipment producer, which also has activities in , South America , and , Europe, is an iconic American company with its green and yellow machines.  , Moline, Illinois-based , Deere , said in a speech it is committed to , U. S.  , manufacturing with$ 2 billion invested in private species since 2019.
Trump’s comments came at a community in , Pennsylvania , focused on challenges to , U. S.  , producers, as he sought to march help in the critical battle. In addition to warning , Deere, Trump accused , China , of failing to honor a deal to buy$ 50 billion in , U. S.  , agricultural exports and vowed to raise the matter with Chinese President , Xi Jinping , if the Republican returns to the , White House.
” My second call, I’m going to visit up , President Xi , and say you have to honor the deal you made”, Trump said. ” You made a bargain, you’d purchase$ 50 billion worth of American farm goods. And I guarantee you he may get it, 100 %, he may get it”.
Trump as president reached a so-called “phase one” trade deal with , China , in early 2020 that saw the , U. S.  , decrease some tasks in exchange for , China , pledging to improve its payments of , U. S.  , imports, including$ 50 billion of agricultural products. But true purchases fell short of that oath, with , China , importing less than 60 % of the promised goods and services — covering food, power and made products through , December 2021, according to a research by the , Peterson Institute for International Economics.
The Republican presidential nominee on Monday assailed President , Joe Biden , and Vice President , Kamala Harris , — his November election rival— saying the current administration had failed to enforce the deal.
China, the world’s second largest economy, has emerged as a top target in the presidential race between Trump and Harris as both candidates vow to take a tough stance against , Beijing , and its growing military and economic influence.
Monday’s event was organized by the Protecting America Initiative, which describes itself as a group” committed to stopping Chinese influence” in the , U. S.  , Its senior advisers include former Ambassador to Germany  , Richard Grenell , and former , U. S.  , Representative , Lee Zeldin, both of whom joined Trump for the discussion.
The former president heard from farmers about the challenges they face, using the opportunity to tout his pledge to hit both , U. S.  , allies and adversaries with tariffs if he secures a second , White House , term.
Trump has vowed to impose a 60 % tariff on , China , and has threatened a 100 % tariff on Chinese cars made in , Mexico , – part of a broader agenda that would upend global trade. As president, Trump placed tariffs on more than$ 300 billion of Chinese goods.
Republican Senator , Marco Rubio , of , Florida , in August urged the company to prioritize , U. S.  , workers in a letter he sent to , Deere , Chief Executive Officer , John May.
China focus
Harris is largely expected to hew to Biden’s approach of “intensive diplomacy”, keeping communication with , Beijing , open and highlighting areas where the nations can cooperate even as the administration looks to make the , U. S.  , more competitive with , China , and restrict its access to cutting edge technologies with national security implications.
Over the weekend, Biden hosted the Quad Leaders Summit in , Delaware, bringing together the prime ministers of , India,  , Australia , and , Japan, part of an effort to strengthen ties with , U. S.  , allies in the Indo-Pacific as a counterweight to , China. During a hot mic moment, Biden was heard telling other leaders that , China , is “testing” the , U. S.  , and its allies in the region.
The Biden administration this year has taken a number of steps to tighten the screws on , China, including finalizing new tariffs on Chinese goods, cracking down on de minimis exemptions for Chinese shipments of cheap products and curbing shipments of steel and aluminum from , China , and elsewhere through , Mexico.
” Donald Trump used the , White House , to give handouts to wealthy corporations and foreign companies at the expense of family farmers, drive farm bankruptcies to record levels, and sacrifice small American farmers as pawns in his failed trade war with China”, Harris campaign spokesman , Joseph Costello , said in a statement Monday.
Trump’s event in , Pennsylvania , comes ahead of a rally he is slated to hold in the state later Monday. Pennsylvania has emerged as the main battleground in the race between Harris and Trump, which highlights the significance of the economy in the race. An , August Bloomberg News/Morning Consult poll shows a tight race, with Harris leading Trump in , Pennsylvania , by four percentage points.
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