“Yesterday I was with Mr. Toyoda in Japan, and he just announced that he’s going to spend, uh, they’re going to spend $10 billion and they’re going to build new auto plants,” Trump said Tuesday, referring to the company’s CEO, Akio Toyoda. “And they’re going to build them in many states, about six or seven different states.”
Trump: Yesterday I was with Mr. Toyota in Japan, and he just announced that he was going to spend — they’re going to spend $10 billion and they’re going to build new auto plants and they’re going to build them in many states. pic.twitter.com/60hfme0fFS
-Acyn (@acyn) October 29, 2025
No such agreement has been reached, as Toyota was careful to clarify. On Wednesday, company executive Hiroyuki Ueda essentially confirmed that Trump was either making it up or confusing the whole thing with a deal made during his first term nearly eight years ago.
“Under the first Trump administration, I think the number was around $10 billion, so even though we didn’t say the same magnitude, we explained that we would continue to invest and create jobs like before,” Ueda told reporters. “It’s probably because of this context that the figure of around $10 billion came up. Therefore, we didn’t specifically say that we would invest $10 billion over the next few years.”
