TOKYO -- Toyota Motor forecasts a net profit of 3.1 trillion yen ($21.5 billion) for the fiscal year ending March 2026, down 34.9% from the year before, the automaker said on Thursday, as steep tariffs imposed by U.S. President Donald Trump against foreign cars threaten to hit the company's profits in the key market.
Automobiles
Toyota braces for 35% profit fall this year, says outlook murky
U.S. tariffs jeopardize automaker in market making up nearly quarter of sales
Toyota vehicles line up at a port in Aichi prefecture in 2022. Auto tariffs by the U.S. and a higher yen against the dollar are expected to weigh on the automaker's revenue. (Photo by Yuki Nakao)
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