Toyota to raise US car prices by average $270 from July
Japanese carmaker Toyota said on Saturday it will raise prices for some vehicles sold in the US by an average of $270 (R4,883) starting in July.
The carmaker's decision follows US President Donald Trump's imposition of a 25% tariff on imported vehicles and car parts. A Toyota spokesperson, however, denied the tariff directly influenced the price increase.
"The latest price hike is part of our regular review of prices," said Nobu Sunaga, a Toyota spokesperson.
Prices for Lexus models, Toyota's luxury brand, would increase by an average of $208 (R3,761), he said.
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IOL News
13 hours ago
- IOL News
BRICS: The key to a new World Order through expansion
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The BRICS Summit in Brazil takes place at a time of extraordinary changes in geopolitics, underscored by the rapidly unfolding disintegration of Western hegemony that has held firm since the end of WWII in 1945. The US, the major glue that has led the West as a united front through formations such as Nato, among others, has unleashed tariffs on Europe in a move that has shaken the foundation of the Western alliance. Under President Donald Trump, Washington's main focus is to 'Make America Great Again', or 'America First' foreign policy that has left the globalists reeling. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The scramble to keep together the crumbling cookie is a spectacle to watch. Just this week at the Nato summit at The Hague, Trump had to be cornered into grudgingly endorsing Nato's Article 5, which refers to the principle of 'an attack on one is an attack on all'. In fact, so desperate was Nato secretary-general Mark Rutte to have Trump not mess up the meeting that he called Trump 'Daddy'. For far too long, Europe has been scavenging on the US. 'The European Union was born to screw the United States,' Trump lashed out in February this year. It is the EU to raise its budget spending on defence to at least 5% of its national budgets, Trumped insists, and the West has had to reluctantly agree for fear of being totally abandoned by Washington. In contrast, the rise of the Global South as a force to be reckoned with is intertwined with the impact in the growing importance of BRICS in geopolitics. Across the entire Majority World, the common message is of solidarity, togetherness, cooperation and mutual pursuit of common goals. For instance, Brazil will hold the BRICS Summit under the theme: 'Strengthening Global South Cooperation for More Inclusive and Sustainable Governance'. As the Global South works hard to strengthen its collective rising power in the 21st century, the Global North is grappling with growing schism between member-states, particularly in the ranks of the EU, where Western Europe continues to subtly treat former Soviet Union Eastern European countries as inferior. Addressing the St Petersburg International Economic Forum (Spief) last week, Russian President Vladimir Putin put it bluntly, saying: 'The dominance of the West is over.' Similarly, the foreign policy of China has consistently been premised on the principles of 'shared future', characterised by cooperation that leaves no one behind, great or small. The concerted mobilisation efforts by BRICS countries, marked by a geographic and ideological sense of solidarity borne from the era of liberation wars against colonialism and imperialism, are an emotional magnetic force that drives BRICS. South Africa, another key component of the strategic geopolitical bloc that is BRICS, will play host to the G20 Leaders' Summit at the end of this year under a similar theme that advocates for greater cooperation across the Majority World, as International Relations scholars refer to the Global South nowadays. South Africa's presidency of the G20 will focus on the theme: 'Solidarity, Equality, Sustainability'. The theme so irked the US that the Trump administration's Secretary of State Marco Rubio boycotted the G20 meeting of foreign ministers in South Africa. There have been unabating fears that the US could boycott the end-of-year meeting in South Africa as bilateral ties ad been frosty for an extended period. However, word in diplomatic circles is that the US has had a change of heart and will see Trump attend the G20 meeting. Relations between intra-BRICS countries continue to grow stronger by the day. India emulated the rest of the Global South when it refused to support the Western economic sanctions against Russia. Instead, India has been reselling Russian oil and gas to Europe under the obvious guise that the products were 'made in India'. The BRICS Bank, also known as the New Development Bank, is quietly positioning itself to counter the lending dominance of the US-led IMF and World Bank. Trade by BRICS countries accounts for 40% of the global trade, according to statistics. Additionally, the combined population of BRICS countries account for nearly 50% of the world's population. There are ample opportunities for BRICS to rapidly morph into the most powerful global body, more powerful than the sectarian G7 and the crumbling UN system that continues to be undermined by US-led Western unilateralism. There are a number of strategically aligned Global South entities that, working together, can achieve a lot more, and faster. For example, at this week's Eurasian Economic Forum held in the capital of Belarus, Minsk, President Putin made some telling remarks when he revealed that 'BRICS is working on a digital investment platform'. Putin explained that such an initiative could also be rolled out across the Eurasian Economic Union (EAEU). Putin elaborated: 'We are developing this platform within BRICS, and these ideas could be implemented in the EAEU too.' The pursuit and formation of networks within and across the Majority World, nurturing of cooperative initiatives and unity of purpose are some of the major principles upon which BRICS can serve as a catalyst to the reformation of the Majority World into a true pole of power in international affairs.
The Citizen
17 hours ago
- The Citizen
R3bn allocated to fix Limpopo's roads and build new ones
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The Citizen
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