Ford Motor Co. late Monday pulled its 2025 guidance, citing significant near-term risks, and said it expects a tariff hit of about $1.5 billion for the year as U.S. automakers continue to grapple with economic uncertainty and some consumers shy away from big-ticket expenses.

Ford Motor Co. reported first quarter profits down across all its divisions, but it said it has managed to mitigate some tariff exposure.

Ford Motor Co. says it expects to take a $1.5 billion 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.