Toyota Motor Corp. is the biggest carmaker in the world — and also the auto industry’s biggest loser when it comes to projected losses from US President Donald Trump’s trade war.

Japanese automaker underscores impact of Trump's tariffs on imported vehicles by outlining hefty hit to profits.

Toyota is facing a staggering $1.2 billion tariff bill, and that sum only includes tariff costs for April and May. The Japanese automaker released financial results on May 8, which the company said "tentatively factored in" the estimated costs of the Trump tariffs.