Toyota Motor Corp. recently ceded its title as the world’s best-selling automaker to arch-rival Volkswagen AG. Yet the Japanese company’s biggest adversary this year may be U.S. President Donald Trump.

Toyota Motor Corp. President Akio Toyoda said he’ll take U.S. President-elect Donald Trump’s decisions into account when planning for the automaker’s Mexican operations, after Ford Motor Co. scrapped plans to build a new plant there.