Toyota frets over hit to car sales from Trump's 25% tariffs

Southfield

TOYOTA Motor Corp executives still fret that President Donald Trump's proposed auto tariffs could come to pass and cut US auto sales by about two million cars a year.

Jim Lentz, chief executive officer of Toyota Motor North America, told the Detroit Economic Club on Wednesday that Mr Trump's proposed use of Section 232 of the Trade Expansion Act to put 25 per cent tariffs on foreign cars would jack up car prices and undercut sales. The move would especially hurt foreign carmakers like Toyota, he said.