Overview
- Speaking aboard the USS George Washington in Japan, President Trump told U.S. troops that Toyota would invest over $10 billion to build auto plants across the United States.
- Toyota senior executive Hiroyuki Ueda said the company made no explicit promise of a new $10 billion investment in talks with the Japanese government or the U.S. Embassy.
- Ueda explained that a roughly $10 billion figure was cited during Trump’s first term, which likely led to the current reference.
- The automaker affirmed it will continue investing and creating jobs in the United States but did not commit to spending $10 billion over the next few years.
- Ueda added that Chairman Akio Toyoda did not discuss investment with Trump at a U.S. Embassy event, following the president’s meeting with Prime Minister Sanae Takaichi and the signing of a rare-earths deal.