Toyota is developing and making electric vehicles and EV batteries in China, the Japanese automaker said Wednesday, under a new partnership with the Shanghai government. Toyota Motor Corp. also announced it will start producing batteries for EVs,

Profit increased for Japanese vehicle manufacturer Toyota in its third quarter compared to the same period of the previous year. Toyota reported that its net income attributable to the company for the third quarter increased to 2.

U.S. President Donald Trump welcomed Japanese Prime Minister Shigeru Ishiba at the White House on Friday and said the two countries would work to cut Washington's trade deficit with Tokyo amid escalating trade tensions threatening to rupture the global economy.

WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday that he wants to work on reducing the trade deficit with Japan, as he met with Japanese Prime Minister Shigeru Ishiba at the White House. Ishiba said during the meeting that Toyota and Isuzu were planning additional investments in the United States.

Japanese Prime Minister Shigeru Ishiba and US President Donald Trump struck a warm tone at their first meeting on Friday, with Tokyo avoiding tariffs that Trump has slapped on other allies -- for now.