Toyota warned Thursday that Trump’s auto tariffs could cost the company nearly $10 billion, the steepest estimate yet among global carmakers, according to CNN. The company slashed its full-year operating profit forecast by 16% and reported a first-quarter operating loss in North America after absorbing $3 billion in tariff-related costs. Toyota’s finance chief said the market outlook is uncertain but affirmed the company will continue producing cars for U.S. customers despite tariff impacts. A U.S.-Japan trade deal lowering tariffs to 15% could offer future relief, though timing remains unclear. Shares fell 1.5% after the company released its earnings.
