The Japanese company Toyota Motor forecasts a 34.9% drop in net profit in the 2025 fiscal year due to high import tariffs imposed by Donald Trump. Operating profit is also expected to decline by 20.8%.
The company expects its net profit to amount to $21.6 billion, significantly lower than last year’s figure. The U.S. accounts for about 20% of Toyota’s overseas sales, making the American tariffs particularly painful.
Earlier, Volkswagen also reported a decline in profits due to Trump’s policies. In response to the protectionist measures, automakers are considering moving production to the U.S., as Toyota is doing with its RAV4 SUV.
