Ford’s announcement that it plans to move production of small vehicles to Mexico has been met by the threat by Donald Trump of a 35% tax. Mexican auto exports have recently returned to growth, with Ford accounting for 23% of exports to the U.S. according to AMIA data. Ford exported $591.5 million of autos to the U.S. from Mexico in July according to Panjiva data, so a tax would therefore cost $207 million. If applied to all vehicles, the tax could be equivalent to $4,900 per vehicle.