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THINK ALUMINIUM THINK AL CIRCLE
Toyota Motor Corporation said it expects the prices of car and truck to increase in the U.S. due to new tariff on imported products.
Toyota said Trump’s decision to impose duties on imported aluminium and steel will adversely impact automakers. The company buys majority of aluminium and steel for the construction of its vehicles from the U.S. producers.
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"Nonetheless, the administration's decision to impose substantial steel and aluminum tariffs will adversely impact automakers, the automotive supplier community and consumers as this would substantially raise costs and therefore prices of cars and trucks sold in America," the company said.
President Donald Trump announced on Thursday that he will impose tariffs of 10 per cent on imported aluminium and 25 per cent on imported steel.
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