Toyota CEO goes full MAGA at Japanese NASCAR race, investing nearly $1B in US manufacturing. Why he’s betting on America

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President Donald Trump’s sweeping tariffs person shaken overseas automakers, truthful it came arsenic a astonishment erstwhile Toyota CEO Akio Toyoda was spotted wearing a reddish “Make America Great Again” chapeau implicit the weekend.

Toyoda appeared astatine a NASCAR lawsuit astatine Fuji Speedway connected Sunday, wherever the assemblage cheered and waved American flags. He didn’t conscionable athletics a MAGA chapeau — helium besides wore a “Trump–Vance 2024” T-shirt (1). The lawsuit was besides attended by U.S. Ambassador to Japan, George Glass.

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Toyota has agelong been the best-selling overseas automaker successful America, which makes tariffs a high-stakes contented for the company. Toyoda utilized Sunday’s quality to marque his stance clear.

“I’m not present to reason whether tariffs are bully oregon bad. Every nationalist person wants to support their ain car industry,” helium said. “We are exploring ways to marque tariffs a victor for everyone. The radical we privation astir to beryllium winners are our customers.”

In September, Trump signed an enforcement bid cutting tariffs connected Japanese car imports from 27.5% to 15%.

Just 2 days aft Toyoda’s MAGA appearance, Toyota announced a $912 cardinal concern successful the U.S (2).

The caller backing volition spell to 5 Toyota manufacturing plants progressive successful hybrid conveyance production: the Buffalo works successful West Virginia, Georgetown works successful Kentucky, Blue Springs works successful Mississippi, Jackson works successful Tennessee and Troy works successful Missouri.

The concern is portion of Toyota’s broader program to inject up to $10 cardinal into its U.S. operations implicit the adjacent 5 years, arsenic announced connected Nov. 13 (3).

And Toyota isn’t the lone multinational committing large wealth to the U.S.

Major companies crossed industries are pouring billions into America. Apple has announced a sweeping $600 cardinal concern successful U.S. manufacturing and workforce grooming (4). Johnson & Johnson plans to enactment $55 cardinal into U.S. manufacturing, probe and improvement and caller technologies (5). And Hyundai is investing $21 cardinal successful the U.S. to boost automotive accumulation capacity, localize cardinal components and accelerate enactment connected aboriginal industries (6).