"Toyota's forecast for the 2026 fiscal year has been lowered due to US tariffs, predicting a drop in operating income by 1.4 trillion yen."
"Honda reported a 50% fall in year-over-year operating profits, attributing it to US tariffs as they lost around 122 billion yen in profits."
"The recent US-Japan trade deal reduced the tariff on Japanese auto imports to 15%, offering relief to manufacturers like Toyota and Honda."
"Despite a positive adjustment in its full-year profit forecast, Honda warned of a potential total tariff impact reaching 450 billion yen for the year."
President Donald Trump announced plans to lower tariffs on Japanese auto imports from 25% to 15%, yet these tariffs significantly affect Japan's auto industry. Toyota projects a 1.4 trillion yen ($9.5 billion) reduction in operating income for the 2026 fiscal year due to these tariffs, exacerbated by exchange rate fluctuations and increased expenses. Honda also reported a 50% decline in operating profits, attributing a loss of 122 billion yen to tariffs, although it adjusted its profit forecast upwards. The US-Japan trade deal provides some relief to Japanese automakers against higher tariffs imposed on American manufacturers.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]