Ford says Trump tariffs to cost $1.5 billion as Q1 net income dives 65%

People look at a Mustang Mach-E at Ford's 2025 Detroit auto show display. — Ford said it was able to lower its tariffs cost in the first quarter by roughly 35 percent with strategies such as using bonded carriers to transport vehicles and parts to Canada from Mexico so they wouldn’t be taxed while passing through the U.S. (MICHAEL MARTINEZ/AUTOMOTIVE NEWS)

Michael Martinez

Last Updated

May 05, 2025 10:32 PM

Ford Motor Co. posted a 65 percent drop in first-quarter net income and withdrew its full-year earnings forecast, saying it expects import tariffs to reduce profits by $1.5 billion in 2025.

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