Ford pulls guidance as it expects $1.5bn hit from tariffs this year

Jim Farley, president and chief executive of Ford, speaks at the Ford Motor Company Kentucky Truck Plant to launch the 2025 Ford Expedition in Louisville, US (Carolyn Kaster/AP)

Ford Motor Company says it expects to take a $1.5bn hit to its operating profit from tariffs this year and is withdrawing its full-year financial guidance due to the uncertainty created by the Trump administration’s evolving trade policy.

Ford said on Monday that its net income fell by about two-thirds in the first quarter to $473m, or 12 cents per share, from $1.33bn, or 33 cents per share in the year-earlier quarter.