Toyota executive denies making explicit $10 billion US investment promise after Trump’s comments, reaffirms ongoing American investment.
TOKYO: Toyota Motor has clarified it did not explicitly promise a new $10 billion investment in the United States despite President Donald Trump’s recent comments.
Senior executive Hiroyuki Ueda stated on Wednesday that no such explicit commitment was made during discussions with Japanese government officials and the U.S. Embassy ahead of Trump’s visit.
Ueda explained that Toyota had referenced its previous $10 billion investment during Trump’s first administration while discussing continued American investment and job creation.
“During the first Trump administration, I think the figure was roughly around $10 billion, so while we didn’t say the same scale, we did explain that we’ll keep investing and providing employment as before,” Ueda told reporters at the Japan Mobility Show in Tokyo.
The executive suggested Trump’s mention of the $10 billion figure likely stemmed from this context of previous investment levels.
“Therefore, we didn’t specifically say that we’ll invest $10 billion over the next few years,” Ueda clarified.
The investment topic did not arise during Toyota Chairman Akio Toyoda’s brief conversation with Trump at a U.S. Embassy event on Tuesday evening.
Trump met with Japan’s new Prime Minister Sanae Takaichi on Tuesday, welcoming her commitment to accelerate military modernization.
The leaders also signed agreements covering trade and rare earth minerals during Trump’s official visit to Japan.
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