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.

Japan's Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump's tariffs.

Japanese automaker Honda Motor anticipates a substantial Y450bn ($3bn) impact on its full-year profit as a result of US President Donald Trump's auto tariffs. The company's operating profit is projected to fall to around Y500bn for the fiscal year ending March 2026,