Yokosuka: US President Donald Trump announced that Toyota plans to invest over $10 billion in auto plants across the United States over the next five years. The announcement was made during Trump’s visit to the USS George Washington at the Yokosuka naval base.

According to Anadolu Agency, Trump relayed the information after a discussion with Japanese Prime Minister Sanae Takaichi. He expressed gratitude towards Japan for its significant investments in the US, highlighting this development as part of a larger influx of capital into the country. Trump estimated that $17 trillion is expected to flow into the US from global sources, predicting this amount could exceed $21 trillion by the end of his first year in office.

The Japanese automaker Toyota has yet to release specific details regarding this new investment. However, the company recently committed $88 million to enhance hybrid vehicle production at its West Virginia plant, which supports 2,000 jobs.

Trump’s comments came during a troop visit with Takaichi, as part of his three-nation tour in Asia. As part of ongoing economic relations, US trade with Japan reached approximately $319.2 billion in 2024. Additionally, Japan agreed to invest $550 billion in the US in exchange for a 15% base tariff on most Japanese imports, a reduction from the originally proposed 24% tariff.