Japanese automaker Toyota’s U.S. arm is joining the ranks of powerful companies donating to President-elect Donald Trump’s inauguration, donating $1 million to the fund.
According to reports, the automaker said it would match the funds already donated by rival car manufacturers General Motors and Ford, who each donated $1 million to the inauguration fund.
However, Toyota will not contribute any vehicles to the inauguration ceremony, unlike GM and Ford.
GM and Ford publicly announced their donations earlier this month, with the companies expressing optimism for the incoming Trump administration.
Mr. Trump’s promised tariffs on Canadian and Mexican products threaten to radically change the face of the U.S. automotive industry. Toyota, GM and Ford all operate factories in both countries and their bottom lines could be seriously hurt by high tariffs.
By donating to the fund, Toyota of America is also joining the ranks of tech companies eager to get in on the ground floor of the incoming Trump White House. Meta and Amazon have donated $1 million each and Mark Zuckerberg and Jeff Bezos, the companies’ respective CEOs, have dined with Mr. Trump since the election.
