AutoBeta(AutoBeta.net)03/15 Report--

In order to increase investment in the United States, the U.S. Department of Commerce submitted an Article 232 national security report to Trump last month. The report recommends that the US government impose tariffs of up to 25 per cent on cars and parts imported from other countries and regions.

If these tariffs fall, the cost of each vehicle for non-American automakers may increase by thousands of dollars. obviously, the huge cost of this increase is too huge for car companies to bear, and at this juncture Toyota's official website announces that it will speed up the pace of its five-year investment plan in the United States. by 2021, the total investment in the United States will rise to nearly $13 billion, nearly $3 billion higher than the planned investment in the five years decided in 2017. This will bring nearly 600 new jobs to American manufacturing plants.

On the decision to increase investment in the United States, Toyota North America's CEO Jim Lentz hinted that Trump's recent trade trends were also a factor in Toyota's shift of more car and parts production to the United States. "if I say we don't pay attention to trade, that's pretentious."

Toyota announced it would invest $749 million in five U. S. plants and add 586 jobs to increase engine capacity and add new hybrids to its product line. Of this amount, US $288 million will be invested in Alabama to increase annual engine production capacity from 670000 to 900000 by the end of 2021, and new production lines for 4-cylinder and V6 engines will be added. In addition, Toyota will invest $238 million to build a plant in Kentucky to produce Toyota RAV4 and Lexus ES 300h hybrids.

Trump was obviously pleased with Toyota's increased investment, reposting a message from Toyota's official US Twitter account on Twitter, commenting: congratulations to Toyota! This is big news for workers in the American auto industry! USMCA is already repairing the broken NAFTA protocol. (USMCA: a new version of the US-Canada-Mexico Free Trade Agreement)

Trump has been a constant voice in the auto industry since he took office. in order to stimulate the US economy and create jobs, Trump first expressed dissatisfaction with the car companies setting up factories and production in Mexico, threatening to set up high tariff policies to restrain the car companies. As a result, many car companies and parts suppliers have to move their car factories and plans to the United States. Toyota is one of them.

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