Toyota warns Trump: Car tariffs will increase cost of every vehicle sold in US

Written By: Tucker Higgins | @tuckerhiggins
Published 3:13 PM ET Wed, 27 June 2018 Updated 7:19 PM ET Wed, 27 June 2018

Automaker Toyota said in a statement on Wednesday that a 25 percent tariff on automobiles would increase the cost of every vehicle sold in the United States.
In May, President Donald Trump directed the Commerce Department to investigate whether car imports were a threat to national security.
Analysts have said imposing tariffs on car imports would be bad for the industry as a whole.