Zollstreit: Trumps Zolldrohung gegen Kanada trifft vor allem Toyota und Honda

US President Donald Trump has threatened to double import tariffs on Canadian-made vehicles to 50% from January 1st, with the main victims being Japanese manufacturers Toyota and Honda. Industry experts warn that these higher duties could force the automakers to shut down production lines in Canada. Together, Toyota and Honda produce over three-quarters of the approximately 1.2 million vehicles manufactured in Canada, and the two companies account for around 427,000 jobs in the sector.

According to Julie Boote of the Pelham Smithers analysis firm, these tariffs could effectively destroy Canada's auto industry. The United States is the most important market for Toyota and Honda, especially as Chinese competitors are largely excluded from the American market. Last year, nearly a quarter of Honda models and 17% of Toyota vehicles sold in the US were produced in Canada.

German automakers do not have factories in Canada but exported around 35,000 vehicles from the US to Canada last year, and would be affected by a reciprocal tariff from the Canadians. The tariffs are part of the US's protectionist trade policy, which forces the global auto industry to make far-reaching adjustments. Toyota is responding by expanding its US production and plans to invest over $10 billion in the country over the next five years, including $3.6 billion for a new plant in Texas.

US tariffs cost the world's largest automaker around €7.6 billion last fiscal year, according to the company. Honda has been struggling with declining profitability, and a high-ranking executive recently said that the construction of an eighth plant in North America depends on the renewal of the USMCA free trade agreement. Trump decided against an automatic renewal of the pact on July 1st, making it subject to annual review.