Toyota Motor Corp. lowered its annual guidance as it warned of a ¥1.4 trillion ($9.5 billion) hit to its bottom line from US tariffs that have rattled the global automotive industry.

The world's top-selling car maker also cut by 16% its forecast for full-year operating profit, reflecting challenges for global manufacturers grappling with rising costs from U.S. levies on cars, parts,

June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump’s tariffs.