Toyota Motor North America has pledged $1 million to President-elect Trump’s inauguration, according to a spokesperson from the company who confirmed the donation on Tuesday.
Toyota’s contribution follows similar pledges from other companies, including Ford, which is also donating $1 million.
In addition, Meta and Amazon both made seven-figure donations to the inaugural fund last week, and OpenAI CEO Sam Altman has committed $1 million from his personal wealth.
A report from S&P Global, released in late November, warned that U.S. and European automakers could face up to a 17 percent loss in annual core profits if steep tariffs were imposed on European, Canadian, and Mexican goods.
Trump has indicated he plans to impose new tariffs on these countries, including 25 percent tariffs on Canadian and Mexican goods and an additional 10 percent on Chinese goods, to pressure them into strengthening border security and addressing the fentanyl crisis.
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