Trump Vows to Tax Ford Motor Out of Mexico
GOP presidential candidate Donald Trump says he would add huge taxes on Ford Motor products if it builds in Mexico.
A conservative business group is blasting Republican presidential candidate Donald Trump for saying he would place a big tax on the Ford Motor Company if it opens a new multi-billion dollar plant in Mexico.
This week Trump repeated a vow that if he is elected President he would confront the head of the Ford Motor Company and reject the automaker’s plan to spend $2.5 billion on new facilities in Mexico.
The Republican presidential contender says he would tell Ford that if it follows through with the plan there would be a huge tax placed on every truck, car and auto part that comes across the U.S. border from Mexico. Trump predicts Ford would change its plans within 24 hours of speaking with him.
A president cannot impose taxes on a company on his or her own.
But officials with a major Republican fund-raising group, called the Club for Growth, say Trump’s tax threat would hurt the U.S. economy and create a trade war to force companies to work where Trump wishes.
The CEO of Ford has reportedly written to Trump, noting that the company has invested heavily in its U.S. plants since 2011.
