Trump Considers Raising Auto Tariffs Beyond 25% as GM and Toyota Announce U.S. Investments

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2025-06-12 18:54:02

President Donald TRUMP signaled potential increases to U.S. tariffs on auto imports, suggesting rates could surpass the current 25% threshold. "The higher you go, the more likely it is they build a plant here," Trump remarked during a White House ceremony, citing increased domestic auto investments since the initial tariffs were imposed.

General Motors unveiled a $4 billion commitment to expand U.S. manufacturing capacity for gas and electric vehicles, aiming to produce over two million vehicles annually. Toyota followed with an additional $1.4 billion investment in its Indiana plant, bringing its total U.S. manufacturing outlay to $18.6 billion since 2021. Despite these announcements, shares of both automakers declined.

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