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On March 31, Toyota Motor Corporation announced its intention to maintain the current pricing of vehicles sold in the United States, in response to the Trump administration's plan to impose a 25% tariff on imported cars effective April 3. Toyota is apprehensive that passing on the tariff costs directly to consumers might result in a decline in sales. Consequently, the company will keep prices stable while closely tracking the progress of negotiations between the Japanese and US governments and their potential effects on sales. The additional tariff costs will be mitigated through internal cost-saving measures. Toyota anticipates that this decision will not impact domestic production, employment, or procurement volumes and prices from Japanese parts suppliers.
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