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Toyota estimates Trump's Mexico tariffs could cost over $1 bil.

This photo shows the Toyota Motor Corp. logo on a vehicle displayed at its Toyopet dealership in Tokyo's Shibaura area on May 9, 2018. (Kyodo)

NEW YORK (Kyodo) -- Toyota Motor Corp. estimates that U.S. President Donald Trump's proposed tariffs on Mexican-made goods could cost its major suppliers more than $1 billion, Reuters news agency reported Tuesday.

The Japanese carmaker provided the estimate in an email to its U.S. dealers, in which it also said 65 percent of the Tacoma midsize pickup trucks it plans to sell in the U.S. market in 2019 will be imported from its plant in Baja, Mexico, according to Reuters.

Trump has threatened Mexico with new levies beginning next Monday unless it stops migrants from crossing into the United States.

In the email dated Monday, Toyota's North American sales chief Bob Carter was reported to have told dealers that the duties could cost its major suppliers between $215 million and $1.07 billion.

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