Toyota said its operating income fell due to the impact of U.S. tariffs and other factors. The company revised its full-year operating income forecast down 600 billion yen to 3.2 trillion yen. Toyota Motor on Thursday reported higher-than-expected operating profit for the June-quarter,

June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump’s tariffs.

Toyota Motor cut its full-year operating profit forecast by 16% on Thursday, expecting a nearly $10 billion hit from U.S. tariffs on imported cars, higher material prices and a stronger yen. The scale of the estimated tariff hit on the world's top-selling automaker highlights mounting margin pressure across the industry,