Toyota Motor (TM) and Honda Motor (HMC) could get stuck with the bill if President Trump's 50% tariff on Canadian car imports go into effect on Jan. 1 as proposed, Reuters reported.

Toyota and Honda could be forced to shut down some production lines, according to the late Sunday report, which cited analysts.

If the tariffs go into effect, the two automakers will likely try to redirect vehicles built in Canada to other markets and look for ways to make up supply for the US market, analysts told the media outlet.

Toyota, Honda did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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