Mexican tariffs could cost Toyota suppliers $1 billion

Japan-based Toyota Motor Corp. said that a proposed U.S. tariff on Mexican imports could increase expenses among its auto-parts suppliers by more than $1 billion, Carscoops reported citing sources. U.K.-based consultancy LMC Automotive Ltd. said that the proposed tariffs could increase the prices of vehicles imported from Mexico by an average of $8,500 per vehicle.

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