Trump tariffs jolt Asian automakers — Toyota likely set for most pain

Recently announced U.S. tariffs on auto imports have caused concern among Asian automakers, with companies facing pressure as the duties are set to be implemented later in the week. Following President Donald Trump’s announcement of 25% tariffs on cars “not made in the U.S.,” shares of Toyota fell 9.4%, Nissan dropped 9.3%, and South Korea’s Hyundai lost 11.2%. Japanese automakers, particularly Toyota, are expected to be heavily impacted due to their significant U.S. sales, with Toyota leading in sales volume in the U.S. in 2024.

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