Toyota cuts full-year forecast after flagging $9.5bn tariff hit
YUICHI SHIGA
TOKYO -- Toyota Motor expects a 1.4 trillion yen ($9.5bn) hit to operating profit for the year through March 2026 from the tariff on automobiles imported to the U.S. imposed by U.S. President Donald Trump, it said on Thursday.
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The Diplomat
an hour ago
- The Diplomat
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When Donald Trump and Lee Jae-myung meet, the very definition of the 70-year-old South Korea-U.S. alliance will be on the table. 'Fasten your seat belt. We are going through turbulence.' This was the stark metaphor South Korea's new foreign minister, Cho Hyun, offered in a recent interview to describe the global security environment. His words aptly capture the challenge facing Seoul as President Lee Jae-myung prepares for his first summit with U.S. President Donald Trump, expected later this month. Cho's diplomatic debut in Washington – marked by a crucial meeting with Secretary of State Marco Rubio – has set the stage for a high-stakes encounter. With a contentious trade deal now settled, the focus has pivoted entirely to the more perilous terrain of defense and security, where the very definition of the 70-year-old South Korea-U.S. alliance is on the table. 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This long-standing goal, domestically framed as a matter of military sovereignty, inherently resonates with the U.S. administration's burden-sharing narrative by demonstrating Seoul's commitment to greater self-reliance. Redefining Success in a Transactional World Ultimately, the stakes of this summit are monumental, both for Lee's government and for the future of Northeast Asian security. His credibility as a statesman is on the line as he navigates between Trump's demands, China's red lines, and a deeply polarized domestic public still emerging from a major political crisis. Success, therefore, will not be defined by a grand bargain or a transformative joint vision. Rather, it will be measured by the skillful management of risk and the preservation of core interests. 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Nikkei Asia
6 hours ago
- Nikkei Asia
Toyota cuts full-year forecast after flagging $9.5bn tariff hit
A participant looks at a Toyota Tacoma pickup truck at the Colorado Auto Show in Denver on April 17. © AP YUICHI SHIGA TOKYO -- Toyota Motor expects a 1.4 trillion yen ($9.5bn) hit to operating profit for the year through March 2026 from the tariff on automobiles imported to the U.S. imposed by U.S. President Donald Trump, it said on Thursday.
