Automotive giant Ford has revealed that import duties imposed by Washington cost the company $800 million (£604million) during the second quarter of 2025, prompting the manufacturer to increase its annual tariff impact forecast to $3billion (£2.2billion).
The Michigan-based carmaker’s shares dropped approximately three per cent in after-hours trading on Wednesday following the announcement, despite the company surpassing Wall Street’s earnings projections. The manufacturer has revised its full-year adjusted earnings guidance downward to between $6.5billion and $7.5billion, or £4.9billion and £5.6billion.
This is a reduction from the $7billion to $8.5billion (£5.3billion to £6.4billion) range projected in February.
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