Toyota cut its full-year profit guidance on Thursday and revealed it expects to absorb a $9.5 billion blow from U.S. tariffs, marking the largest projected tariff hit among global automakers as the Trump administration’s new trade reset begins to reshape the auto industry.
In its quarterly earnings report, released on Aug. 7, the Japanese auto giant said it now forecasts operating income for the fiscal year ending March 2026 to reach $22.1 billion, down $4.1 billion from its earlier forecast. The downward revision is due largely to sharply higher tariffs imposed by the United States on imports of foreign vehicles and components.
