President-elect Trump’s threat to apply 35% tariffs on companies who offshore production and close U.S. facilities is not new. It could just be part of the ‘carry a tariff stick’ trade policy outlined by Commerce Secretary nominee Wilbur Ross. This will keep a focus on the auto industry though. The big three American automakers’ exports from Mexico to the U.S. reached their highest in October since November 2014. It isn’t clear whether model- or company-specific taxes are possible, or whether entire product groups will be targeted instead.