Japanese auto giant, Toyota, on Thursday cut its annual net profit forecast to 2.66 trillion yen ($18.06 billion) owing to the impact of US tariffs.
“Due to the impact of US tariffs and other factors, actual results showed decreased operating income, and the forecast has been revised downward,” the company said in a statement.
Its shares fell 0.6 percent in Tokyo afternoon trade.
The Trump administration in April imposed a 25 percent levy on Japanese cars imported into the United States, dealing a hefty blow to Japan and its crucial auto sector.