Honda is the latest automaker to warn of a massive hit to its profits as a result of President Trump's auto tariffs.

Fourth-quarter revenue was in line with LSEG mean estimates, but fourth-quarter operating profit posted a huge miss. Revenue for the full financial year rose 6.2% year on year, but operating profit fell 12.

Slowing demand for EVs and US tariffs impact on Canada’s auto sector force the Japanese automaker to postpone plans for an EV supply chain in Ontario, dealing a severe blow to Canadian EV ambitions.

U.S. equities were mixed at midday, with tech shares and a better-than-expected consumer inflation report lifting the S&P 500 and Nasdaq.

Jim Hinton, intellectual property lawyer and founder of Own Innovation, says Honda postponing its plan for an EV plant in Canada comes as no surprise and predicts more will fall. He says Canada does not own technology or control companies,

Honda announced the postponement on Tuesday after forecasting a 59 per cent profit decline in the current fiscal year.

Nissan has more than doubled its number of planned job cuts to 20,000, while Honda has estimated a $3bn blow from US tariffs will cut annual profits by more than half, as leading