Japan's Honda projects plummeting profits due to Trump's tariffs
Honda’s profit for the fiscal year through March slipped 24.5% from the previous year, as its vehicle sales in China dropped, and the Japanese automaker warned Tuesday that President Donald Trump’s tariffs will worsen its earnings. Tokyo-based Honda Motor Co., which dropped talks to integrate its business with Japanese rival Nissan Motor Corp. earlier this year, said its annual profit totaled 835.8 billion yen ($5.6 billion), down from 1.1 trillion yen in the previous fiscal year. Research and development costs hurt, despite Honda’s record global motorcycle sales for the fiscal year, which topped 21 million motorcycles.