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Toyota Motor is poised to move production of its Tacoma mid-size pickups from Mexico to Texas, marking a multi-billion-dollar investment in domestic America.
“Toyota is moving from Mexico to the United States (Texas!),” President Donald Trump highlighted on Tuesday. “A really big deal. Tariffs at work!”
According to the company, Toyota Motor North America Inc., will invest $3.6 billion in its San Antonio plant, which will include a second vehicle assembly line. This is projected to create more than 2,000 new jobs, the company said.
The production of their mid-size Toyota pickup truck will also be transferred from their plant in Mexico to San Antonio, Texas, over a period of roughly four years.
This news comes just days after the United States declined to extend the USMCA, or United States-Mexico-Canada Agreement.
“The United States will continue to engage with Mexico and Canada to address the Agreement’s shortcomings and our trade deficits with these countries,” a statement from U.S. Trade Ambassador Jamieson Greer noted on July 1.
He continued, “However, the Agreement remains in force pending resolution of these issues or until the Agreement’s termination.”
The USMCA will not expire until 2036, according to the Center for Strategic and International Studies. However, Ambassador Greer said his statement that the U.S. will meet with Mexico the week of July 20 for a third round of bilateral talks related to the review of the agreement.
Toyota’s move to invest in domestic U.S. manufacturing comes amid a flurry of U.S.-based investments sparked by President Donald Trump’s administration. According to the White House, the Trump administration has secured trillions of dollars in investments – like a $600 billion manufacturing investment from Apple and a $500 billion investment from global chipmaker NVIDIA.
