Toyota and Honda Face US Tariffs on Canadian Imports
Toyota and Honda face potential production cuts as the US proposes a 50 percent tariff on Canadian car imports. The automakers rely heavily on Canadian assembly lines for popular SUV models exported to the United States.
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TOYOTA MOTOR CORP and HONDA MOTOR CO LTD face potential production shutdowns in Canada from a proposed 50% tariff by the United States starting January 1. The two Japanese automakers account for more than three-quarters of all vehicles built north of the border. Canadian-built cars represent 17% of Toyota's sales and nearly a quarter of Honda's sales in their largest market.
