Toyota faces biggest impact from Trump tariffs

Bumpy road: Toyota vehicles bound for shipment at the Port of Nagoya in Japan. According to some unofficial estimates, one unnamed automaker is losing US$1mil an hour due to US tariffs. — Bloomberg

Tokyo: Toyota Motor Corp is the biggest carmaker in the world –and also the auto industry’s biggest loser when it comes to projected losses from US President Donald Trump’s trade war.

Duties on imported cars and auto parts forced General Motors Co to slash its full-year profit guidance by as much as US$5bil, while Ford Motor Co is bracing for a US$1.5bil annual hit.