Although made in Georgetown, Kentucky, the cost of Toyota Camry would rise by $1,800 if President Trump enacts a 25% import tariff on cars and components.
“We are an exemplar of the manufacturing might of America,” Toyota told Bloomberg via email.
“A 25% tariff on automotive imports, which is just a tax on consumers, would increase the cost of every vehicle sold in the country. Even the Toyota Camry, the best-selling car in America, made in Georgetown, Kentucky, would face $1,800 in increased costs.”
The Trump administration has begun investigating whether car and automotive imports are pose a “security threat” to the USA.
Toyota has made an official comment to the Commerce Department, and the Association of Global Automakers says any possible tariffs as “the greatest threat to the U.S. automotive industry at this time.”
Source: Bloomberg
