Toyota on Thursday forecast a 35% year-on-year drop in net profit for 2025-26, citing U.S. President Donald Trump’s vehicle tariffs among other factors.
Carmakers have been among the hardest-hit by Trump’s multipronged assault on free trade.
On top of a 25% tariff already placed on finished imported cars, the Trump administration on Saturday imposed a similar duty on auto parts including engines and transmissions.
