June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump’s tariffs.

Toyota’s results indicate that big Japanese automakers could emerge from US President Donald Trump’s tariffs regime in a strong position. The automakers have welcomed the reduction in tariff rate but have been pushing for greater certainty on when the lower rate will come into effect.

The world's top-selling car maker also cut by 16% its forecast for full-year operating profit, reflecting challenges for global manufacturers grappling with rising costs from U.S. levies on cars, parts,