Toyota posts record 1Q profit, but frets about U.S. tariffs

Toyota Motor Corp. reported Friday a record group net profit of 657.31 billion yen ($5.9 billion) for the April-June period, backed by brisk sales in China and Europe, but expressed concern about a U.S. threat to impose higher tariffs on cars.Net profit at Japan's largest automaker increased 7.2 percent from the same period a year earlier, while operating profit jumped 18.9 percent to 682.69 billion yen. First quarter sales rose 4.5 percent to 7.36 trillion yen, a record high for the period.But Toyota maintained its full-year earnings forecast, citing additional costs for research and devel…READ FULL ARTICLE