Ford says it took an extra $900m Trump tariff hit last year
BBC • • business
Key Points:
- Ford faced $900 million more in tariff costs than expected last year due to a last-minute change in the Trump administration's tariff relief program, resulting in a total tariff expense of about $2 billion for 2025.
- The tariff relief scheme, designed to help automakers offset levies on imported parts, was altered with a later effective date, reducing the anticipated benefits for Ford.
- Ford reported a $19.5 billion charge linked to scaling back its large electric vehicle (EV) plans, contributing to a fourth-quarter net loss of $11.1 billion, as the company shifts focus to hybrids, gas-powered vehicles, and smaller EVs.
- The decision to reduce large EV production aligns with similar moves by General Motors
