Toyota Takes Advantage of USMCA, Aims to Avoid Section 232 Tariffs — Panjiva


Toyota Takes Advantage of USMCA, Aims to Avoid Section 232 Tariffs

Cons. Discr. - Autos 693 Mexico 536 Tariffs 1250 Trade Balance 682 U.S. 3446 USMCA 382

Toyota has announced plans to spend $13 billion over the next five years to expand its vehicle and parts manufacturing in the U.S. That’s likely to be a response both to the passage of the U.S.-Mexico-Canada Agreement as well as preempting long term risks from the ongoing section 232 review of the automotive industry. The firm has already cut back its imports from outside North America, shown by a slide of 19.6% year over year in the three months to Feb. 28. That is possibly in response to lower vehicle sales. At the same time Toyota has scaled up its imports from Mexico to the U.S. by 1...

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