Toyota says Kentucky-made Camry price could increase $1,800 with Trump tariffs
Foreign automakers and their American manufacturers are coming out in opposition to President Trump’s plan to consider taxing imported cars, trucks and auto parts, according to the Associated Press.
The administration ordered an investigation to determine whether or not the imports are a threat to national security. If the US Commerce Department determines they are a security threat, Trump announced he will impose a 25 percent tariff on the imports.
Toyota has said that the Toyota Camry, manufactured in Georgetown, could face $1,800 in increased costs if the tariffs are realized.
"We believe the only plausible outcome of this investigation is to reject the notion that automotive imports threaten national security,” said a statement from Toyota.
Friday is the deadline for public comments on Trump's call for a Commerce investigation into whether auto imports pose enough of a threat to U.S. national security to justify tariffs, according to the Associated Press. Toyota says it plans to make comments.