Which Japanese Cars Are Tariff-Exposed in 2026

Toyota, Honda, and Nissan collectively face $40 billion in added costs from U.S. tariffs and EV policy shifts over the two fiscal years ending March 2027, per Automotive News analysis published June 11. Toyota's share alone is $17.2 billion. Honda: $15.2 billion. Nissan: $3.1 billion. The headline is real. It doesn't tell you which car to buy.

Tariff exposure for Japanese-brand vehicles splits sharply by build location, not by brand. A Toyota Camry and a Toyota 4Runner wear the same badge. One is built in Georgetown, Kentucky. The other comes from Tahara, Japan. Under Section 232 — the 25% auto import tariff in effect since April 3, 2025 — those two facts put them in entirely different price-pressure categories.

The Build Location Split

Nearly 99% of Honda vehicles sold in the U.S. were built in North America in 2025, according to Honda. Toyota's North American plants cover Camry, Corolla, RAV4, Tundra, Tacoma, and Sequoia. The Japan-import exposure clusters around their off-road and premium lineup, specifically 4Runner, Land Cruiser, and the GR series. Subaru and Mazda are more exposed overall — they import a larger share of their U.S. lineup from Japan.

How New Prices Drive Used Prices

The Section 232 tariff adds 25% to the cost of an imported vehicle. That doesn't stay on new car lots. Cox Automotive data shows used prices typically follow new prices with a 3-to-6-month lag: when a model's new price rises, buyers who can't afford new shift to used, demand increases, and used prices move up.

A 2022 Toyota 4Runner starts at $20,094 on CarScout today, with 956 listings nationwide. That supply number has stayed tight for years — 4Runner demand has outpaced used supply since 2020. A new 4Runner's price climbing 25% from tariffs doesn't affect the cars already on used lots. It does bring more buyers into used who were planning to buy new, competing for inventory that was already constrained.

The CR-V sits in a different position. CarScout shows 46,483 active CR-V listings with 1,243 from model year 2022 alone. Deep inventory, minimal tariff pressure on new models from its Ohio plants. That combination gives buyers more room to negotiate.

Why the $40 Billion Is Still Relevant

The $40 billion figure represents costs absorbed by automakers — not prices passed to consumers yet. Automotive News reported in August 2025 that major Japanese brands were absorbing tariff costs rather than raising sticker prices. Honda has managed to avoid passing costs by relying on its American-Made Index-leading domestic manufacturing. Toyota has redirected production toward its U.S. plants where possible, even announcing plans to export U.S.-built Camrys and Tundras to Japan starting in 2026.

Absorption has limits. When it ends, new prices move. Used prices follow. The Japan-built models — 4Runner, Forester, Outback, CX-5 — are the ones where that sequence matters most.

The EV policy reversal is a second hit. The end of federal EV tax credits cut demand for models like the Toyota bZ4X and Nissan Ariya, forcing write-downs that compound the tariff exposure. For used buyers, that's separate from the tariff story: it's actually pushing more supply of those discontinued or slow-selling EVs onto the used market, and prices have softened accordingly.

What to Do With This

If you're shopping for a used 4Runner, Land Cruiser, Forester, Outback, or Mazda CX-5: the case for buying sooner is real. New-car tariff pressure on these Japan-built models hasn't fully hit used pricing yet. It will, with a lag.

If you're shopping Camry, CR-V, Accord, Rogue, or Altima: you're in a structurally better position. The tariff mechanism that's squeezing Japan-built supply isn't at play for these models. Prices are rising across the used market generally — the Manheim index hit its highest point since summer 2023 — but these models aren't carrying additional Japan-tariff pressure on top of it.

The practical split: know which side of that table your target model sits on before you decide whether to move now or wait.

What cars from Japan face the 25% Section 232 tariff? Any vehicle imported into the U.S. from Japan faces the 25% Section 232 tariff effective April 3, 2025. For Japanese brands, that means models assembled in Japan rather than at their U.S. or Canadian plants. The 4Runner, Land Cruiser, Subaru Forester, Subaru Outback, and most Mazda models are built in Japan. Camry, CR-V, Accord, Rogue, and Altima are built in the U.S. and exempt.

Are used Honda and Toyota prices going up because of tariffs? For U.S.-built models like the Camry, CR-V, and Accord, tariffs have had minimal direct effect — their new car anchor prices aren't moving much. The broader used market is up about $860 year over year per JD Power, affecting all models. Japan-built models like the 4Runner and Forester carry additional pressure from tariffs on new versions pushing buyers into the used market.

Should I buy a used Subaru now because of tariffs? The Forester and Outback are both built in Gunma, Japan, making them directly exposed to the 25% Section 232 import tariff on new vehicles. That pressure hasn't fully reached used prices yet. If you're planning to buy a Forester or Outback in the next 6-12 months, the tariff trajectory argues for acting sooner rather than later — though the broader supply picture is still reasonably healthy with 31,765 Forester listings and 37,316 Outback listings on CarScout today.

CarScout tracks live listings for every model in this table. Set a scout for a Japan-built model you're watching and you'll know the moment pricing shifts in your area — before it becomes obvious to everyone else.