Toyota’s North American branch has pledged to assist local auto parts manufacturers with the escalating costs resulting from tariffs introduced by the Trump administration, as per information obtained by Nikkei. The U.S. has implemented an additional 25% tariff on all imported vehicles on Thursday. This tariff is set to be expanded to crucial components such as engines and transmissions by May 3.
The automaker’s move comes as a response to these tariffs, aiming to alleviate the financial burden on suppliers importing from Mexico and Canada. Toyota’s commitment to cover these costs signifies its continuous support for local auto parts manufacturers, ensuring their operations remain viable despite the newly imposed tariffs.
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