Donald Trump spoke at the Carrier plant in Indianapolis on Thursday, formally announcing his agreement with the company to keep the plant open and reportedly saving some 1,000 jobs from moving to Mexico.
During his speech, Trump had a strong message for U.S. companies who want to outsource jobs to other countries: "There will be consequences."
"Companies aren't going to leave the United States anymore, we can't let it happen," he said.
According to Vice President-elect Mike Pence, Carrier, which mainly produces air conditioners, has invested $16 million to keep the plant in Indiana open. But despite the deal, the company still plans to move 700 jobs to Mexico, NBC News reports—the same country it considered moving jobs to in February.
Trump added that companies that do try to outsource jobs will be "taxed very heavily," and leaving the country will be "very difficult." As for companies that do plan to keep jobs in the U.S., Trump said that he plans to lower business taxes from "35% to 15%" during his presidency.