Toyota Pushes Back on Trump's Claim of $10bn US Investment
Toyota Motor Corporation has denied US President Donald Trump's assertion that the company is set to invest over $10 billion in the United States. The Japanese automaker's senior executive, Hiroyuki Ueda, clarified that no explicit promise of such a significant investment was made during Trump's visit to Japan earlier this week.
While Toyota did not deny that it plans to continue investing and creating jobs in the US, Ueda stated that the firm had discussed its investment plans with Japanese and American officials. However, he noted that the figure of $10 billion came up in conversation due to a prior discussion between Toyota Chairman Akio Toyoda and Trump, which did not include this specific topic.
The company's denial has led some to speculate that Trump may have misspoken or exaggerated the scope of any potential investment by Toyota. The visit by Trump to Japan was seen as an opportunity for both countries to strengthen their ties, with the US president meeting with Japan's new prime minister and signing deals on trade and rare earths.
Despite the denial from Toyota, Trump seems to be encouraging Americans to buy Japanese-made products, including cars from the company. However, it remains unclear what specific plans Toyota has in store for its US operations.
Toyota Motor Corporation has denied US President Donald Trump's assertion that the company is set to invest over $10 billion in the United States. The Japanese automaker's senior executive, Hiroyuki Ueda, clarified that no explicit promise of such a significant investment was made during Trump's visit to Japan earlier this week.
While Toyota did not deny that it plans to continue investing and creating jobs in the US, Ueda stated that the firm had discussed its investment plans with Japanese and American officials. However, he noted that the figure of $10 billion came up in conversation due to a prior discussion between Toyota Chairman Akio Toyoda and Trump, which did not include this specific topic.
The company's denial has led some to speculate that Trump may have misspoken or exaggerated the scope of any potential investment by Toyota. The visit by Trump to Japan was seen as an opportunity for both countries to strengthen their ties, with the US president meeting with Japan's new prime minister and signing deals on trade and rare earths.
Despite the denial from Toyota, Trump seems to be encouraging Americans to buy Japanese-made products, including cars from the company. However, it remains unclear what specific plans Toyota has in store for its US operations.