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Toyota warns US auto tariffs will harm consumers

Production cost of Camry expected to jump $1,800

Toyota Motor sells about 400,000 Camrys in the U.S. each year.

NAGOYA, Japan -- Toyota Motor is speaking out against proposed 25% U.S. tariffs on imported vehicles and automotive components, pointing to higher production costs that would hurt American consumers and workers.

The Japanese automaker will submit to the U.S. government later this week a statement opposing the tariffs, which are being proposed by President Donald Trump on national security grounds.

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