Ford and other companies expecting billions in tariff impacts this year – National [Video]

Many global automakers are planning for the costly impact of the trade war, and some saying they expect to see profits drop by billions of dollars by the end of the year, mainly citing tariffs on the auto industry imposed by U.S. President Donald Trump.

Companies like Ford, General Motors, Volkswagen, Stellantis, and many others expect tariffs to lead to higher costs to manufacture vehicles, and if consumers end up with a higher price tag as a result, then there could be a ripple effect. In some cases, that has already led to job losses.

While some changes have been made to give the auto industry some wiggle room, companies are still expecting to take a financial hit.

“There’s no economist in the world that doesn’t know that input costs are going up. And the automobile business is a big ticket, small margin business,” says dealership manager Andrew MacPhee in an interview adding, “there’s no choice but to have a price …