Japanese automaker Toyota said President Trump's tariffs would cost the company $1.3 billion in just two months. Toyota highlighted the levies' hit to profits at a press briefing on Thursday on its fiscal year which ended March 31,

Toyota held an earnings press conference, talking about impacts of tariffs by President Trump. The company's earnings look much different from last year.

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