TOKYO, August 7. /TASS/. Japanese automaker Toyota may suffer a revenue loss of $9.5 bln as a result of elevated import tariffs imposed by the administration of US President Donald Trump, according to the company’s quarterly report.
According to the document, the auto giant’s net profit for the April-July period of the current year declined by 36.9% compared to the same period in 2024. Toyota forecasts that for the entire fiscal year (ending March 2026), its actual earnings will fall by 44.2% year-on-year. The projected losses stemming from the US tariffs are estimated at $9.5 bln, which is seven times higher than previously reported.
As noted by the portal Nikkei Asia, during the previous fiscal year, Japanese car manufacturers exported approximately 29% of their total output to the North American market - more than to any other global region. With the introduction of new US import tariffs, Japan’s leading automakers are sustaining significant financial damage: auto giants Honda and Mazda have reported current losses of $201 mln and $313 mln, respectively, for the Q1 of 2025.
In July, Japanese Prime Minister Shigeru Ishiba announced that Tokyo and Washington had reached an agreement providing for a reduction in US tariffs on Japanese goods - from the previously announced 25% down to 15%. In addition, the US import tariffs on Japanese automobiles introduced in April will also be cut to 15%. US President Donald Trump confirmed that the two sides had concluded a "comprehensive deal," under which Japan will, in particular, invest $550 bln into the US economy.