Japan’s Toyota Motor said Thursday that it expected a profit hit of nearly $10 billion from President Donald Trump’s tariffs on cars imported into the United States, the highest such estimate yet by any company.

Fall in operating profits also due to losses on electric car sales in US but 50% drop is less than manufacturer estimated

Toyota Motor reported higher-than-expected operating profit for the June-quarter, even as the auto company grapples with U.S. tariffs.