Ford says it took an extra $900m Trump tariff hit last year

Ford said the US car maker's tariff costs were $900m (£660m) higher than expected last year because of a last minute change to the Trump administration's tariff relief program.

Chief executive Jim Farley said Ford spent double what it had expected on tariffs in 2025 - roughly $2bn - due to "the unexpected and late year change in tariff credits for auto parts".

Separately, Ford had previously disclosed a $19.5bn hit as a result of its shift away from electric vehicle plans. Those charges also contributed to its fourth-quarter net loss of $11.1bn. The vehicle manufacturer had said it was backing away from plans to make large EVs, citing lacklustre demand and recent regulatory changes under Trump. The business case for leaning heavily into EV production, specifically large-sized EV models, has "eroded", the company had said.