Toyota expects to lose billions as Trump tariffs weigh on auto sector
Toyota expects to lose billions as Trump tariffs weigh on auto sector
Toyota expects to lose billions as Trump tariffs weigh on auto sector
Author: Al Jazeera
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Published on: 07/08/2025 | 00:00:00
AI Summary:
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Toyota expects a $9.5bn hit from United States President Donald Trump’s tariffs on cars imported to the US. Toyota also cut its forecast for full-year operating profit by 16 percent. North American business swung to an operating loss of 63.6 billion yen ($431.3m) in the first quarter. General Motors (GM) has projected one of $4bn to $5bn for the year. Ford expects a $3bn gross hit to pretax adjusted profit. First-quarter results highlight pressure US import tariffs are putting on Japanese automakers.
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