Trump threatens Toyota over Mexico factory plans

US President-elect Donald Trump on Thursday threatened to impose steep import taxes on Toyota if it goes ahead with plans to build a factory in Mexico to export cars to the United States.

"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 tweet, his latest attack on auto manufacturers investing abroad rather than in the United States.

Toyota in November celebrated the groundbreaking for the plant in Guanajuato, in central Mexico, which reportedly will entail a $1 billion investment.

Ford this week canceled plans for a $1.6 billion plant in Mexico after coming under attack by Trump.