Toyota Motor North America will provide $1 million for President-elect Trump's inauguration.
A Toyota spokesperson confirmed Tuesday the inaugural donation to The Hill.
Toyota, along with Ford and many other companies, has pledged large sums of money to President Trump's inauguration. Ford is reportedly donating $1 million.
Last week, Meta and Amazon turned over seven-figure donations from their companies to the president-elect's inaugural fund. OpenAI CEO Sam Altman also said he would donate $1 million from his personal funds.
U.S. and European automakers could collectively lose up to 17% of their annual core profits if high tariffs are imposed on Europe, Canada and Mexico, according to a report released by S&P Global in late November. There is sex.
President Trump announced last month that he would issue an executive order imposing new tariffs on products from China, Canada and Mexico at the start of his next term.
The president-elect said on Truth Social that he would impose a 25% tariff on Canadian and Mexican products, and an additional 10% tariff on Chinese products. Trump said the tariffs are aimed at putting pressure on countries to step up efforts to secure their borders and combat fentanyl exports to the United States.
“Both Mexico and Canada have the absolute right and power to simply resolve this long-smoldering issue. We hereby demand that they use this power, and that they Until they do, it's time for them to pay a very high price!'' President Trump said on Truth Social.
