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U.S. President-elect Donald Trump has threatened Toyota Motor Corp (7203.T) over its Mexican-built cars, but the biggest risk from a punitive tariff would be for its compatriot Nissan Motor Co (7201.T), the largest automaker operating in the country.

Trump has criticized U.S. companies like General Motors (G.N) and Ford Motor Co (F.N) which manufacture abroad, accusing them of costing U.S. jobs. On Thursday he took on Toyota, warning the world's largest automaker that it would face a "big border tax" if it exported Mexico-built cars to the U.S. market.

But it is Nissan, Japan's second-largest automaker, which would be the bigger victim of any tax punishment. Nissan built its first overseas plant in Mexico in 50 years ago and now produces more than 800,000 cars there, mainly its entry-level Versa and Sentra sedans.

Nissan's production dwarfs that of Toyota, Honda Motor Co (7267.T) and Mazda Motor Corp (7261.T) in Mexico. It exports roughly half of its output to the United States, where it also has production plants.
 

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