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Business trends

Trade war wipes out profit growth at Japanese automakers

Honda, Nissan and three others expect full-year slump as steel tariffs bite

Nissan's first-half operating profit sank 25%, squeezed by rising materials costs.   © Reuters

TOKYO -- Japanese automakers are girding themselves for the growing impact of Washington's protectionist trade policy on their full-year earnings, with six out of seven big carmakers expecting no profit growth in the fiscal year ending March 2019.

Honda Motor, Nissan Motor, Suzuki Motor, Mazda Motor and Subaru are projecting a profit drop, while Toyota Motor expects profit to stay flat on the year. Only Mitsubishi Motors, whose strength lies in the Southeast Asia market, is forecasting growth in earnings.

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