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US Toyota says Trump steel, aluminum tariff will hurt automakers

Tokyo (Platts)--1 Mar 2018 1048 pm EST/348 GMT


Toyota Motor North America said in a statement Friday that the Trump administration's plan to introduce import duties on steel and aluminum will hurt automakers.

"Toyota's procurement philosophy has always been to build where we sell and to buy where we build. In fact, more than 90% of the steel and aluminum we purchase is from right here in the US," the automaker said.

"Nonetheless, the Administration's decision to impose substantial steel and aluminum tariffs will adversely impact automakers, the automotive supplier community and consumers as this would substantially raise costs and therefore prices of cars and trucks sold in America," it added.

Spokespersons for Nissan Motor and Honda Motor, with operations in the US, said they are awaiting further details of the new tariffs.

Japan exported around 28,000 mt of aluminum products to the US in 2017, comprising mostly of sheets.

--Mayumi Watanabe, mayumi.watanabe@spglobal.com
--Edited by Irene Tang, irene.tang@spglobal.com

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