Toyota Camry Faces $1,800 Cost Increase on Trump Import Tariffs
(Bloomberg) -- Toyota Motor Corp. is piling onto the broader auto industry’s criticism of the Trump administration’s imports investigation by warning how much more one of its most popular cars will cost due to tariffs.
“We are an exemplar of the manufacturing might of America,” the Japanese automaker said in an emailed statement, noting its 10 U.S. manufacturing plants. “A 25% tariff on automotive imports, which is just a tax on consumers, would increase the cost of every vehicle sold in the country. Even the Toyota Camry, the best-selling car in America, made in Georgetown, Kentucky, would face $1,800 in increased costs.”
Toyota sent the statement to media before submitting official comments to the Commerce Department on Thursday. The Association of Global Automakers, a Washington-based trade group that represents car manufacturers and parts suppliers based outside the U.S., condemned the Trump administration’s investigation earlier Wednesday, calling the potential duties “the greatest threat to the U.S. automotive industry at this time.”
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