TOKYO (Reuters) – Toyota will keep running its operations as it has been and focus on bringing down fixed costs, it said on Monday, not expressing any intention to raise vehicle prices in response to U.S. President Donald Trump’s tariffs.
Japanese domestic media reported earlier on Monday that the world’s biggest automaker does not plan to raise prices for vehicles sold in the United States for the time being, even as Trump’s 25% tariffs on global automotive imports take effect on April 3.
“While closely monitoring developments from U.S. authorities including tariffs, we’ll continue to work on reducing fixed costs and maintain our current operations for the time being,” a Toyota spokesperson said in a statement.
In 2024, the U.S. was Toyota’s biggest market globally, with a volume of 2.3 million vehicles.
(Reporting by Maki Shiraki and Daniel Leussink; Editing by Kirsten Donovan)
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