Honda has reported its profit in the last quarter was half of what it was a year earlier, as automakers were hit by 25% tariffs on vehicle exports to the United States.

And Honda isn’t alone. Another Japan-based company, Toyota, has hit pause on its new electric SUVs made in the U.S., thanks to strong demand for the Grand Highlander. Those launches are now pushed to 2026 and 2028. Ford, meanwhile, is allowing Nissan to use part of its battery factory in Kentucky after making some changes to its own EV rollout.