Toyota Clarifies Investment Claims Amid Trump’s US Visit

The renowned Japanese automotive manufacturer, Toyota Motor Corporation, has refuted former President Donald Trump’s assertion regarding a potential investment exceeding $10 billion in the United States. During his recent trip to Japan, Trump announced that he had received information suggesting that Toyota would be establishing factories throughout the US, accompanied by an investment of ‘over $10 billion’. He even encouraged attendees to ‘go out and buy a Toyota’.

However, a senior official from Toyota, one of the largest car manufacturers globally, clarified that no such formal commitment had been made regarding an investment of that magnitude. While the company does have plans to invest in the US and generate employment opportunities, the executive emphasized that there was no explicit pledge of $10 billion.

Hiroyuki Ueda, Toyota’s senior executive, spoke to reporters at the Japan Mobility Show in Tokyo and explained, “During the first Trump administration, I think the figure was roughly around $10 billion, so while we didn’t say the same scale, we did explain that we’ll keep investing and providing employment as before.” Ueda suggested that the figure may have emerged from the context of previous discussions, but reiterated, “Toyota didn’t specifically say that we’ll invest $10 billion over the next few years.”

Ueda further noted that the topic of investment was not raised during a conversation between Toyota’s chairman, Akio Toyoda, and Trump at a US embassy event earlier this week. The discussions focused on various topics, but did not explicitly mention Toyota’s investment plans.

During his visit, Trump also met with Japan’s newly appointed Prime Minister, Sanae Takaichi, who is the first female premier in the country’s history. Trump expressed support for Takaichi’s commitment to enhance military capabilities, while the two leaders signed agreements related to trade and the procurement of rare earth elements.

In her discussions with Trump, Takaichi emphasized her goal of fundamentally strengthening Japan’s defense posture and expanding cooperation with the US. This commitment reflects the ongoing efforts to bolster bilateral ties amid evolving geopolitical dynamics.

As Toyota looks to the future, the company remains committed to its presence in the United States, focusing on job creation and investment without making explicit promises of large-scale financial commitments. The clarification from Ueda reinforces the importance of accurate communication in the automotive industry, especially when it involves high-profile figures like Donald Trump.

The exchange between Trump and Toyota serves as a reminder of the intricate relationship between business and politics, as well as the significant role that major corporations play in international relations.