During a recent media event at Toyota Headquarters in Plano, Texas, the company stated it was in “wait and see mode” regarding tariffs. Other automakers are clearly in a similar situation, as the number of vehicles imported into the United States in the month of May plummeted by more than 72%, according to a new report from Automotive News, citing the trade database, Descartes Datamyne. Maritime import volume dropped by 72.3% compared to May 2024, clearly caused by the 25% tariffs on automobiles that went into effect in April.
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