{"id":24273,"date":"2025-05-08T18:09:22","date_gmt":"2025-05-08T18:09:22","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/toyota-says-president-trumps-tariffs-will-cost-automaker-1-3-billion\/"},"modified":"2025-05-08T18:09:22","modified_gmt":"2025-05-08T18:09:22","slug":"toyota-says-president-trumps-tariffs-will-cost-automaker-1-3-billion","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/toyota-says-president-trumps-tariffs-will-cost-automaker-1-3-billion\/","title":{"rendered":"Toyota says President Trump&#8217;s tariffs will cost automaker $1.3 billion"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     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class=\"lazyload embed__frame\" data-width=\"1920\" data-height=\"1080\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" id=\"white-house-signals-it-will-ease-tariffs-affecting-the-auto-industry--hero\" title=\"Video: White House signals it will ease tariffs affecting the auto industry\" data-sort-time=\"1746395244000\" data-update-time=\"1746395244000\"><\/iframe><\/p><\/div>\n<p>          <button class=\"player-overlay__button--icon-close__mobile\" data-target=\"\" aria-label=\"Close sticky player\"><br \/>\n        <svg class=\"player-overlay__button--icon\">\n          <use xlink:href=\"#player-icon-close\"\/>\n        <\/svg><br \/>\n      <\/button><\/p><\/div>\n<\/p><\/div><figcaption class=\"embed__caption-container\">\n                              <a href=\"https:\/\/www.cbsnews.com\/texas\/video\/white-house-signals-it-will-ease-tariffs-affecting-the-auto-industry\/\" class=\"embed__headline-link\" data-invalid-url-rewritten-http=\"\"><\/p>\n<p>          <span class=\"embed__icon\"><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\">\n              <use xlink:href=\"#icon-video\"\/>\n            <\/svg><br \/>\n          <\/span><\/p>\n<p>          <span class=\"embed__headline\">White House signals it will ease tariffs affecting the auto industry<\/span><\/p>\n<p>          <span class=\"embed__video-duration\">00:42<\/span><\/p>\n<p>                      <\/a><\/p>\n<\/figcaption><\/figure>\n<section class=\"content__body\">\n<p>Japanese automaker Toyota said President Trump&#8217;s tariffs would cost the company $1.3 billion in just two months.\u00a0<\/p>\n<p>Toyota highlighted the levies&#8217; hit to profits at a press briefing on Thursday on its fiscal year which ended March 31, 2025. The company said during the briefing that it expects the tariffs to cost it $1.3 billion in April and May alone.\u00a0<\/p>\n<p>The Trump administration in March\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-auto-tariffs-gm-ford-stellantis-car-prices\/\" data-invalid-url-rewritten-http=\"\">imposed a 25% tariff<\/a><\/span>\u00a0on the roughly 8 million vehicles assembled abroad that the U.S. imports annually.\u00a0<\/p>\n<p>The carmaker stopped short of making predictions on future tariff hits on business, with Toyota CEO Koji Sato saying that any future impact would be &#8220;very difficult to forecast.&#8221;\u00a0<\/p>\n<p>Other industry players have also spelled out the tariffs&#8217; effects on businesses and consumers.\u00a0<\/p>\n<p>General Motors last week also lowered its 2025 profit forecast, estimating that Trump&#8217;s tariffs will cost it at least $4 billion for 2025.\u00a0 Ford on Wednesday confirmed to CBS News that the same duties would cause it to <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/ford-trump-tariffs-price-hikes-mexico\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">raise prices on three car models made in Mexico<\/a><\/span> by as much as $2,000.\u00a0<\/p>\n<p>While Toyota did not specify that it would raise customer prices to reflect added tariff-related costs, it said it would &#8220;look at the situation and take the appropriate action at the appropriate timing.&#8221;<\/p>\n<p>&#8220;Just because of tariff rising prices in \u2014 hastily is not the type of reaction Toyota is thinking of,&#8221; Sato said.<\/p>\n<p>In many cases, the import duties on foreign-made cars, combined with retaliatory tariffs from the U.S. trade partners\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/china-says-it-will-raise-tariffs-on-u-s-goods-to-125\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">such as China<\/a><\/span>, will lead to price hikes for consumers. Depending on the car model, price tags could grow by $2,000 to $12,000, according to Anderson Economic Group (AEG), a consulting and research firm.\u00a0<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/megan-cerullo\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Megan  Cerullo<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24\/7 to discuss her reporting.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/toyota-trump-tariffs-1-3-billion-hit\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House signals it will ease tariffs affecting the auto industry White House signals it will ease tariffs affecting 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