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August 8, 2025

Toyota reports a 37% drop in profit

TOKYO (AP) — Toyota has reported its profit plunged 37% in the April-June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump's tariffs.

The Japanese automaker said it based its report on the assumption that Trump's tariffs on exports from Japan, including autos, would be 12.5% starting this month. However, they will be 15%.


 
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