Ahead of the 2024 presidential election, former President Donald Trump has made headlines with his latest trade policy proposal, promising hefty tariffs on vehicles produced by alleged Chinese factories in Mexico.
Cuban responded to Collin Rugg, owner of Trending Politics, who reported Trump’s comments made at a policy roundtable in Smithton, Pennsylvania. Trump warned John Deere of a 200% tariff if they proceed with plans to shift some production to Mexico.
“This Lack of Understanding of Business is insane,” Cuban wrote.
Trump’s comments were made while speaking to farmers, emphasizing his knowledge and love for John Deere. He stated, “If you do that, we’re putting a 200% tariff on everything that you want to sell into the United States,” highlighting his campaign’s focus on tariffs.
John Deere’s webpage details the company’s commitment to U.S. manufacturing and explains the necessity of moving less complex operations to other locations.
The U.S. has been strategically decoupling from China, a trend expected to continue regardless of the 2024 election outcome. Both Harris and Trump are likely to maintain this stance, impacting Chinese companies outsourcing to or investing in factories in Southeast Asia and Mexico.
Additionally, the Biden administration has proposed banning vehicles equipped with Chinese software, citing national security concerns. The U.S. Commerce Department aims to prevent nearly all Chinese cars from entering the U.S. market, further complicating the trade landscape.
Price Action: Deere & Co stock closed at $408.95 on Monday, up 0.75% for the day. In after-hours trading, the stock dipped 1.53%. Year to date, Deere & Co has risen by 2.01%, according to data from Benzinga Pro.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.