Motor industry giant Ford says it expects tariffs to cost it about $2bn (£1.5bn) this year, more than previously expected, despite building most of its cars in America. The company says it had already paid an extra $800m in duties in the three months ending in June.

Ford faces a $2 billion profit hit in 2025 due to Trump’s auto tariffs, despite strong domestic production and efforts to adapt its supply chain.

Ford Motor Company despite $50.2 billion in quarterly revenue, Ford posted a net loss of $29–$36 million, its first quarterly loss since 2023. Tariffs alone added $800 million in costs this quarter, and the company now expects a $2 billion hit for the full year.