Honda is also postponing its $11 billion investment in Ontario EV factories due to slowing demand in North America.

Tariffs could cost Japan's second-largest automaker up to 650 billion yen this financial year—equivalent to $4.4 billion and almost half last year’s profit. Reporting results Tuesday, Honda forecast a roughly two-thirds slide in operating profit for the year through March 2026,

The first batch of car pricing data since new vehicle tariffs went into effect show an increase as a global trade war upends the industry.

Japanese auto giant Honda missed fourth-quarter earnings estimates as operating profit plunged 76%, with the company bracing for the full impact of U.S. tariffs. Honda's fourth quarter ends March 31.

The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.

Anderson Economic Group has done the math based on the amended tariff policy from the White House and here is how it will impact each car.

Some companies have not spoken out about what tariffs are costing them, but they have announced some changes in the pricing of their products. Related: Apple CEO sends blunt message on tariffs impact Ford is one company that's been forced to take action in response to tariffs,

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