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Companies

Toyota faces up to $4.2bn hit if Trump raises tariffs

Full-year forecast remains unchanged, but frets 25% duty will weigh on sales

Toyota shirayanagi
Toyota’s Senior Managing Officer Masayoshi Shirayanagi at a news conference on Friday. The company performed well over parts of Asia in the first quarter, but tanked in North America.

TOKYO -- Toyota Motor on Friday warned of a major dent to its earnings if U.S. President Donald Trump makes good on his threat to increase tariffs on autos and auto parts.

In its first-quarter earnings announcement, the Japanese automaker said it has kept forecasts unchanged for the year ending March 2019, but added that the forecasts do not factor in any effects from possible U.S. duties on auto imports.

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