Toyota Motor Corp. President Akio Toyoda said Monday it is important for the United States and Japan to "cooperate toward prosperity" of the North American region following U.S. President Donald Trump's inauguration last week.
Toyota Motor said earlier this month it would spend $10 billion in the United States over the next five years after Trump criticized the Japanese automaker for building a production plant in Mexico.
Trump vowed in his inauguration speech to renegotiate the North American Free Trade Agreement with Mexico and Canada, a threat to global automakers using plants in Mexico as an export hub to ship vehicles to the U.S. market.
Speaking at a ceremony in Gifu Prefecture, Toyoda also welcomed the presence in the Trump administration of new Vice President Mike Pence, with whom he met before Pence took office.
"It's encouraging there is the vice president, who listens to and understands us," Toyoda said. Pence served as governor of Indiana, where Toyota has an assembly plant.
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