Japanese automakers were handed a reprieve when President Donald Trump said he would lower tariffs on Japan to 15% from 25%.

Toyota Motor and Honda Motor are expected to report weaker first-quarter earnings this week, as U.S. import tariffs and a stronger yen weigh on profits despite solid demand for hybrids in their biggest overseas markets.

U.S. President Donald Trump's tariffs are cleaving Japan Inc, as some big exporters like Toyota Motor slash their profit forecasts while Sony and Honda are among those saying the impact will be less than they had feared.