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Japan’s Toyota Motor has clarified that it did not explicitly commit to a new $10 billion investment in the United States, despite comments made by U.S. President Donald Trump during his visit to Japan. Trump, speaking in Tokyo on Tuesday, suggested the world’s largest automaker was planning to invest about $10 billion in the U.S. economy.
However, Toyota executive Hiroyuki Ueda told reporters on Wednesday that no such promise had been made in discussions with the Japanese government or the U.S. Embassy prior to Trump’s visit. Ueda explained that while Toyota remains committed to investing and creating jobs in America, the $10 billion figure was not an official pledge.
“During the first Trump administration, the figure was roughly around $10 billion,” Ueda said at the Japan Mobility Show in Tokyo. “We didn’t say we’d invest the same amount again, but we explained that we’ll continue investing and providing employment as before. Probably because of that context, the $10 billion figure came up.”
He added that Toyota did not specifically state it would invest $10 billion over the next few years. Ueda also clarified that the topic of investment was not discussed when Toyota Chairman Akio Toyoda briefly spoke with Trump at a U.S. Embassy event.
Trump’s visit included meetings with Japan’s new prime minister, Sanae Takaichi — the country’s first female premier. Trump expressed support for Takaichi’s plan to accelerate Japan’s military buildup and announced new trade and rare earth agreements between the two nations.
Toyota, a key player in the global automotive industry, continues to emphasize its long-term commitment to U.S. manufacturing and employment while maintaining flexibility in its investment strategies.
