Toyota added that more than 90 percent of the steel and aluminum purchased for cars built in the United States is sourced from the country.
>>So, what’s the problem for Toyota? Tariffs will have almost no effect on them.<<
Oh? They’ll have to raise the price of American made Toyotas because the steel and aluminum they use to make them will go up in price. That will directly impact American consumers and will also make American Toyotas less likely to be exported to other countries.
And if other countries decide to play the same game, they just might put tariffs on American made cars, further damaging Toyota’s American made cars.
President Trump has implemented a lot of his agenda already, but this part of it should never see the light of day. Unfortunately, it might. If you have an investment portfolio containing stocks, you might want to reassess how much you have invested in them. Trade wars can be brutal to stock markets.