(MENAFN) US President Donald Trump revealed on Tuesday that Japanese automaker Toyota plans to invest more than $10 billion over the next five years to establish auto manufacturing plants across the United States.

"I was just told by the Prime Minister (Sanae Takaichi) that Toyota is going to be putting auto plants all over the United States, to the tune of over $10 billion," Trump told American troops during a visit to the nuclear-powered aircraft carrier USS George Washington at Yokosuka naval base near Tokyo.

"We like that," Trump added, expressing gratitude to Japan for its "big investments" in the US.

He framed Toyota’s planned expansion as part of a broader wave of foreign capital flowing into the country, saying an estimated $17 trillion is currently coming in from around the world.

"I think by the time we finish up our first year, we'll be over 20, or $21 trillion of money coming into our country," Trump said.

Toyota has not yet provided any official details regarding the scope or timing of the investment.

The automaker had previously pledged $88 million to boost hybrid vehicle production at its West Virginia facility, safeguarding approximately 2,000 jobs.

Trump made his announcement alongside Prime Minister Sanae Takaichi during a stop in Japan as part of a three-nation Asia tour.

Trade between the US and Japan reached an estimated $319.2 billion in 2024, according to US data. Japan has agreed to invest $550 billion in the US in exchange for a 15% base tariff on most Japanese imports, down from the 24% level initially proposed by Trump.

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