Toyota warns of £7.1bn hit from Trump tariffs as it cuts profit forecast
by Lauren Almeida from on (#6Z5KS)
Japanese carmaker cuts operating profit guidance by 16% day after rival Honda reported 50% drop in profits
Toyota has warned it faces a 1.4tn yen (7.1bn) hit from Donald Trump's trade tariffs, as the Japanese company reported a drop in net profit and cut its guidance for next year.
The biggest carmaker in the world said it expected to make an operating profit of 3.2tn yen in its financial year to March 2026, down 16% on previous guidance of 3.8tn yen.
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