Toyota Releases Statement on Potential Tariffs

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Toyota Releases Statement on Potential Tariffs

The commerce department is investigating whether importing automobiles and auto parts pose a risk to national security. It’s called the Section 232 investigation, and Monday, 44News reached out to Toyota to find out where officials stand on the issue.

A company spokesperson says they share the administration’s goal of growing U.S. jobs and the economy and they believe fair trade is the best way to grow the auto industry and give people more choices.

Toyota officials say 12 million vehicles were made in the U.S. last year making it unlikely in their opinion that vehicle imports are threatening our national security.

The Section 232 investigation began sometime in May when the Trump administration placed tariffs on steel and aluminum imports.

Below is the statement released by Toyota officials:

“We share the Administrations’ goal of growing U.S. jobs and the economy. Toyota has been a significant contributor in this regard, with 1,500 dealers, 137,000 employees and our 11th U.S. plant coming soon, totaling over $25 billion invested in America over the past 60 years. We believe free and fair trade is the best way to create sustained growth for the auto industry and provides more choices and greater value for American consumers. The Section 232 investigation is intended to cover threats to national security. Given the global nature of the automobile industry and the fact that last year nearly 12 million vehicles were manufactured in the U.S., such a determination seems implausible.”

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