Toyota plans to hold off on price increases after the U.S. plans to impose additional tariffs on automobiles

According to Jinshi Data on March 31, Toyota Motor plans not to raise prices for cars sold in the U.S. after the Trump administration begins imposing an additional 25% tariff on imported cars starting April 3. Toyota believes that if the additional tariff is immediately passed on to prices, consumer purchases will decrease significantly, which would have a major impact on sales. While maintaining current prices, Toyota will pay attention to the direction of negotiations between the Japanese and U.S. governments and their impact on sales. The increased costs from the tariffs will be absorbed through cost-cutting measures. It is expected that Toyota will not reduce production or employment in Japan and will also maintain the quantity and prices of purchases from parts suppliers