Toyota Denies US$10 Billion US Investment, Counters Trump Claims

Japan’s Toyota clarified that it did not explicitly promise to invest US$10 billion in the United States, contradicting statements made by US President Donald Trump during his visit to Japan earlier this week.

Speaking on the sidelines of the Japan Mobility Show in Tokyo, Toyota executive Hiroyuki Ueda said discussions with the Japanese government and the US Embassy ahead of Trump’s visit did not include a commitment of that scale. “During the first Trump administration, the figure was roughly around US$10 billion. While we did not commit to the same scale this time, we explained that we will continue investing and providing employment as before. Probably because of that context, the figure of about US$10 billion came up. We did not specifically say we would invest US$10 billion over the next few years,” Ueda said.

The comments follow Trump’s statements suggesting Toyota would establish factories “all over” the United States, with investments exceeding US$10 billion, while urging Americans to “go out and buy a Toyota.”

Ueda added that the topic of investment did not come up during a brief discussion between Toyota Chairman Akio Toyoda and Trump at a US Embassy event on Tuesday.