Toyota Motor cut its full-year operating profit forecast by 16% on Thursday, expecting a nearly $10 billion hit from U.S. tariffs on imported cars, higher material prices and a stronger yen. "It's honestly very difficult for us to predict what will happen regarding the market environment,

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

Toyota said its operating income fell due to the impact of U.S. tariffs and other factors. The company revised its full-year operating income forecast down 600 billion yen to 3.2 trillion yen. Toyota Motor on Thursday reported higher-than-expected operating profit for the June-quarter,