Money: Toyota rebukes Trump for sending message that carmaker 'not welcomed' in US - - PressFrom - Canada
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MoneyToyota rebukes Trump for sending message that carmaker 'not welcomed' in US

08:50  18 may  2019
08:50  18 may  2019 Source:   msn.com

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Toyota Rebukes Trump for Sending Message That Carmaker ‘ Not Welcomed ' in U . S . In an unusually strong-worded statement, Japan’s largest automaker said Trump ’s proclamation Friday that the U . S . needs to defend itself against foreign cars and components “ sends a message to Toyota

Toyota rebukes Donald Trump for sending message that carmaker ' not welcomed ' in US 5/18/19 Toyota is Japan's largest car company.

Toyota rebukes Trump for sending message that carmaker 'not welcomed' in US © Bloomberg

Toyota Motor Corp. rebuked President Donald Trump’s declaration that imported cars threaten U.S. national security, signaling contentious talks are ahead for the White House and America’s key trading partners.

In an unusually strong-worded statement, Japan’s largest automaker said Trump’s proclamation Friday that the U.S. needs to defend itself against foreign cars and components “sends a message to Toyota that our investments are not welcomed.” The company said it has spent more than $60 billion building operations in the country, including 10 manufacturing plants.

Trump earlier Friday agreed with the conclusions of his Commerce Department, which investigated imports of vehicles and auto parts and found they harm national security by having led to a declining market share for “American-owned” carmakers since the 1980s. The White House set a 180-day deadline for negotiating deals with Japan, the European Union and other major auto exporters.

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Toyota rebuked President Donald Trump ’s declaration that imported cars threaten U . S foreign cars and components “ sends a message to Toyota that our investments are not welcomed .” national security by having led to a declining market share for “American-owned” carmakers since the 1980s.

Toyota Motor Corp. rebuked President Donald Trump ’s declaration that imported cars threaten US cars and components “ sends a message to Toyota that our investments are not welcomed ." security by having led to a declining market share for “American-owned" carmakers since the 1980s.

Toyota said it remains hopeful that those talks can be resolved quickly, but warned that curbing imports would force U.S. consumers to pay more and be counterproductive for jobs and the economy. The company’s critique comes two months after its pledge to add $3 billion to a years-long U.S. investment plan.

Representatives for other automakers were more diplomatic but also registered concern about the Trump administration's saber-rattling. The Alliance of Automobile Manufacturers, a trade group representing a dozen of the largest domestic and foreign carmakers with operations in the U.S., warned Friday that higher prices from tariffs could put 700,000 American jobs at risk.

``We are deeply concerned that the administration continues to consider imposing auto tariffs,'' the car lobby said in a statement. ``By boosting car prices across the board and driving up car repair and maintenance costs, tariffs are essentially a massive tax on consumers.''

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Toyota has criticized President Donald Trump 's decision to declare some auto sector imports a national security threat, saying it sends a message that Japan's largest carmaker isn't welcome in the United Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.

What is Toyota worried about??? maybe that their megaplants in China won't be able to dump entire vehicles in the USA ? Maybe Trump is a little aggressive in his methods. He is trying to fix 40 years of stupid policies overnight and its scaring people.

Related video: White House delays decision on imported auto tariffs (provided by Reuters)

The pushback by Toyota marks a break from years of attempting to work its way into Trump’s good graces.

Days after drawing criticism from the then-president elect in January 2017 for planning to build Corolla cars in Mexico, Toyota announced a $10 billion, five-year investment plan. In August of that year, the company said it would join with Mazda Motor Corp. in building a $1.6 billion factory in Alabama.

But all those efforts have done little to curb repeated threats by the White House to impose tariffs of as much as 25% on imported vehicles and auto parts.

“Our operations and employees contribute significantly to the American way of life, the U.S. economy and are not a national security threat,” the company said.

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This is interesting!