The world's top-selling car maker also cut by 16% its forecast for full-year operating profit, reflecting challenges for global manufacturers grappling with rising costs from U.S. levies on cars, parts,

Toyota Motor Corp. lowered its annual guidance as it warned of a ¥1.4 trillion ($9.5 billion) hit to its bottom line from US tariffs that have rattled the global automotive industry.

TOKYO (AP) — Toyota’s profit plunged 37% in the April-June quarter, the company said Thursday, cutting its full year earnings forecasts largely because of President Donald Trump’s tariffs.