In February 2025, as U.S. President Donald Trump moved to impose new tariffs on imported goods, rumors began to spread online that auto manufacturers Toyota and Honda were planning to shutter manufacturing plants in the U.S as a result. For example, a Snopes reader sent a meme in an email, asking whether its claims were true:

The performance of car stocks just hasn’t lined up with the threat of new import tariffs. There are a couple of reasons for that, but investors should consider whether a change is coming as President Donald Trump’s threat likely becomes a reality in a few weeks.

President Donald Trump promised to impose tariffs of 25% on auto imports to the U.S., a move that could have sweeping repercussions for