BUSINESS Tariffs on auto imports could hurt US jobs, raise consumer costs: Toyota

BUSINESS

Tariffs on auto imports could hurt US jobs, raise consumer costs: Toyota

Reuters

01:07, May 25, 2018

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FILE PHOTO: Visitors look at car models on the Toyota stand during the 88th Geneva International Motor Show in Geneva, Switzerland, March 7, 2018. (Photo: Reuters)

Japanese automaker Toyota Motor Corp said on Thursday that imposing tariffs on imported vehicles “could hurt American jobs” and boost consumer costs.

President Donald Trump on Wednesday said he had directed the US Commerce Department to open a probe into whether vehicle and auto parts imports pose national security risks.

Trade associations representing major foreign automakers and auto parts suppliers have also criticized the planned investigation. Toyota noted in its statement on Twitter that it has 10 US plants and 1,500 US dealers.

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