Robotic arms weld automobile body frames in the Toyota plant in Toyota City, Aichi, Japan. Photo: Bloomberg
Toyota’s profit plunged 37pc in the April-June quarter, the company said, cutting its full-year earnings forecasts largely because of US president Donald Trump’s tariffs.
The Japanese automaker said it based its report on the assumption that Mr Trump’s tariffs on exports from Japan, including autos, would be 12.5pc starting this month. As of now they stand at 15pc.
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