Honda Motor Co. is expecting a ¥450 billion ($3 billion) hit to its full-year profit as it braces for the fallout of US President Donald Trump’s auto tariffs, joining rivals reeling from the trade war.

Honda Motor Co. has projected a significant 70% decline in its net profit for the 2025-26 financial year, citing the heavy toll of US trade tariffs on the global automotive industry. The company estimates a net profit of 250 billion yen ($1.

The carmaker projected a sharp drop in profit as it expects to be hit by higher U.S. tariffs on foreign-made cars.