Japan defends Toyota after Trump's criticism of Mexico car plantBy Elliot Bullman
Japan's finance ministerhas jumped to Toyota’s defence after the car-maker was attacked forits Mexican growth plans by the US president elect Donald Trump.
Toyota, the world’s biggest vehicle manufacturer, is building a new factory in Guanajuato, in central Mexico, which will produce a Corolla model that is currently made in Mississippi and Ontario, Canada.
In response to Donald Trump´s pledge to impose a 35 pc tariff on cars manufactured In Mexico and exported to the US, Toyota said that “in 2015, we exported over 160,000 vehicles made in the US to over 40 countries.”
Mr Trump, misidentifying the site of the new plant as Baja California, warned on Twitter that the firm should place its factory in the US “or pay big border tax” to bring the vehicles into the US.
Japan’s finance minister responded to the criticism of one of the country’s largest exporters. “Toyota is responsible for large employment at US plants such as in Kentucky. It’s questionable whether the new US President has a grasp of how many vehicles Toyota builds in the US,” said Taro Aso, according tothe Financial Times.
“With more than $21.9bn direct investment in the US, 10 manufacturing facilities, 1,500 dealerships and 136,000 employees, Toyota looks forward to collaborating with the Trump administration to serve in the best interests of consumers and the automotive industry,” the company said.
"We're always considering ways to increase production in the United States, regardless of the political situation," said Toyota president Akio Toyoda.
- Artificial Intelligence is Transforming Mexico’s Financial Sector
- Mexico’s IRS Chief Evaluates Blacklisting the United States as a Tax Haven (REFIPRE)
- America's Passion for Guns: Ownership and Violence by the Numbers
- US Breaks Ground on New Embassy in Mexican Capital
- Cape Town Drought Declared a 'National Disaster'
- Canada and the U.S Exchange Criticism Amid Rising Tensions over NAFTA Negotiations
- Oxfam: Deputy Resigns Over Sex Claims Amid Crisis Talks
- Trump's Infrastructure Blueprint Labelled a 'Scam'
- Mexico Leads OECD Nations in Reducing Mobile Interconnection Rates
- OPINION | Perversely, good economic news has spooked the stock markets
- Disney raises prices of U.S. theme parks’ tickets
- New York State sues Weinstein Company