Key Facts
• On August 1, US tariffs on Japanese cars will drop from 25% to 15%.
• The agreement halves the additional tariff from 12.5% to 6.25%, totaling 15%.
• Toyota expressed gratitude to US and Japanese officials for their efforts.
• Toyota hopes for further tariff reductions and improved trade conditions.
• The company aims to focus on mobility and being a “top local company.”
• Toyota projected a ¥180 billion revenue loss in April-May 2025 due to tariffs.
Summary
Toyota Motor Corporation has responded positively to the recent US-Japan tariff agreement, which reduces US tariffs on Japanese cars from 25% to 15% starting August 1, 2025. The agreement halves the additional tariff from 12.5% to 6.25%, easing the burden on the automotive industry. Toyota expressed appreciation for the efforts of both governments and emphasized its commitment to fostering open, free trade. The company also highlighted its focus on mobility innovation and maintaining its reputation as a “top local company” globally. Despite the agreement, Toyota had earlier projected a ¥180 billion revenue loss for April-May 2025 due to tariffs.
