Toyota expects a fiscal 2026 operating profit of about $26 billion, short of the Wall Street estimate for about $34 billion.

The automaker’s somber forecast for the fiscal year underscored how quickly fortunes had turned for many companies reckoning with President Trump’s tariffs.

The impact of the Trump administration's auto tariff policy is becoming clearer as Toyota discloses the multi-billion dollar loss in profit in just two months. The company's forecast for the remainder of the year shows just how much tariffs could impact the automaker.