Key Takeaways Honda Motor said new U.S. auto tariffs will send profits and sales tumbling.CEO Toshihiro Mibe noted that Honda sees a $4.40 billion negative impact from the tariffs this year.Honda is also postponing investments in electric vehicles and batteries in Canada because of falling demand.

Honda is the latest automaker to warn of a massive hit to its profits as a result of President Trump's auto tariffs.

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