Honda has reported its profit for the fiscal year through March slipped 24.5% from the previous year as its vehicle sales in China dropped

Honda's profit for the fiscal year through March slipped 24.5 per cent from the previous year, as its vehicle sales in China dropped, and the Japanese automaker warned Tuesday that President Donald Trump's tariffs will worsen its earnings.

Forecasting a steep 59 per cent profit drop for the year, Honda is postponing its $15 billion plan to build an EV supply line in Canada for at least two years due to concerns about U.S. auto tariffs.