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.