Ford Motor Co. and General Motors are joined by another automaker receiving Trump’s criticism. Trump once again took to Twitter. He made it known that Toyota Motor Corp. would also receive a “big border tax” unless it withdraws plans to build in Mexico. Like Ford and General Motors, Toyota has plans to start a new plant in Mexico.
Before Trump’s Tweet Akio Toyoda, president of Toyota, seemed positive about the Trump administration. He described the Trump administration as a new “opportunity.” Toyoda went on to say that the company has no problem working with Trump to make the U.S. stronger. Yet when Trump received news of Toyota’s plans for a Mexico plant, the criticism began. Trump’s message was the same as it had been to Ford and GM, “Build plant in U.S. or pay big border tax.”
However, despite Trump’s disapproval, things are looking up for the Japanese automaker. Tokyo shares are on the rise following Trump’s election. Toyoda didn’t mention Trump in his statement. But he did, however, emphasize his company’s previous dedication to the U.S.
Toyota has produced cars in the U.S. for the last sixty years. The automaker has built 10 auto plants and over 1,500 dealerships. It has employed over 136,000 people and invested $21.9 billion in the United States. Toyota says its factory in Mexico would have no bearing on U.S. jobs whatsoever.
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