Honda Motor Co. raised its annual profit forecast even as its quarterly figure took a hit from President Donald Trump’s tariffs on cars and car parts imported to the US.The carmaker now sees ¥700 billion ($4.

Honda Motor reported a 50% drop in first-quarter operating profit on Wednesday, as a stronger yen and the impact of U.S. President Donald Trump's tariffs took its toll, but the company raised its full-year forecast.

Honda's profit in the last quarter was half of what it was a year earlier, the company said Wednesday, as automakers were hit by 25% tariffs on vehicle exports to the United States. The Japanese automaker reported Wednesday that its April-June profit totaled 196.