President Donald Trump’s threat to impose tariffs on Mexican goods may boost expenses by $215 million to $1.07 billion, the Japanese automaker told dealers in a letter seen by Bloomberg. The mid-sized Tacoma could suffer because 65% of the pickups sold in the U.S. are imported from Mexico, the memo said.
In a pair of tweets on May 30, Trump warned of tariffs ranging from 5% starting June 10 that could ramp up in increments to 25% in October unless Mexico’s government stops immigrants from entering the U.S. illegally.Bob Carter, Toyota’s executive vice president for North America, sent the letter to U.S. dealers late Monday, saying the added cost projections are “rough estimates” and the full implications for the auto industry remain unclear.
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