Japanese automakers are buckling up for U.S. tariffs that might cost them hundreds of billions of yen a year; when all added up across the industry, maybe more than ¥1 trillion ($6.8 billion) in total.
The major carmakers, all of which had released earnings for the last fiscal year by Wednesday, said it’s tough to factor the changing tariff situation into their forecasts, but they expect the new levies will cost them a lot no matter what happens.
Some manufacturers have indicated an intent to increase production in the United States.
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