Toyota joins Ford, GM in donating $1 million to Trump

The Japanese automaker joins Ford, General Motors and other major companies on Trump’s second inauguration donor list

Shortly after it was revealed that Ford and General Motors would each donate $1 million to Donald Trump’s January 20 inauguration, Toyota North America announced it would also match the rival’s donation. Several other companies are also donating to the fund, and all signs point to contributions exceeding the $107 million Trump raised during his first inauguration in 2017.

However, unlike its rivals in Detroit, Toyota decided not to loan any vehicles for the event, insisting on direct cash donations. While $1 million may be an eye-watering sum to most of us, for Toyota, a global giant with approximately $820 billion in assets, it’s just a drop in the bucket. Think of it as a polite handshake rather than a bear hug.

READ: Ford, GM each spend $1M on Trump inauguration amid concerns about electric vehicles, emissions

Cultivating a good relationship with the incoming president could help Toyota gain his favor. Trump has threatened to impose steep tariffs on imports from Canada and Mexico, which could hurt Toyota and many other automakers. Toyota has factories in both countries. Mexico is particularly important to the Japanese automaker because it builds the popular Tacoma there.

Other companies also reportedly donated $1 million each to the inauguration, including Amazon, Meta and Open AI. Uber and CEO Dara Khosrowshahi and hedge fund manager Ken Griffin are expected to invest $1 million each.

talk with CNBC More recently, Brendan Glaving, director of research at the nonprofit OpenSecrets, said donating to the inauguration “is a great opportunity for them to curry favor with the incoming administration. None of these people want to be Trump.” Four years of punching bag.”

Michael Beckel, director of research at the political reform advocacy group Issue One, added, “One of the oldest adages in Washington is that if you’re not at the table, you’re on the menu, and the price of admission is high. .” The seats at the table kept growing. “

In other words, these companies are not only generous, but they also buy insurance to ensure they are not left out of the political conversation when big decisions are made. For Toyota, Ford and General Motors, these decisions could mean the difference between a thriving North American trade network and a stifling tariff nightmare.