Ford Motor Company said on Monday the tariff policies taken by the U.S. President Donald Trump's administration is expected to cost the company 1.5 billion U.S. dollars in profit this year.
The company also warned that supply chain disruptions caused by the tariffs could lead to industry-wide interruption in automotive production.
It further noted that other factors, including increases in tariffs, changes in tariff implementation, and the potential retaliatory measures by other nations, could also pose additional threats.
These factors are major industry risks and may have significantly impact on the company's financial performance, it said.
In an online earnings press release posted on Monday, Ford said the company's first-quarter net income dropped by 64 percent year over year to 471 million U.S. dollars and the adjusted earnings before interest and taxes (EBIT) slid to 1 billion U.S. dollars.
Previously, the automaker expected an operating profit of about 7 to 8.5 billion U.S. dollars in 2025 but withdrew the prior projection it released three months ago due to to increasing uncertainty from the tariff policies.
On April 3, the Trump administration imposed a 25 percent tariff on imported vehicles, with an additional 25 percent duty on auto parts scheduled to take effect in early May.
Ford expects 1.5 bln loss in profit due to Trump's tariff policies
China and Thailand on Friday agreed to strengthen strategic alignment and enhance cooperation in various fields in a meeting between Thai Prime Minister Anutin Charnvirakul and Chinese Foreign Minister Wang Yi.
Noting the current turbulent international situation, Anutin said Thailand firmly adheres to the one-China policy and is willing to work with China to implement the consensus reached by the heads of state of the two countries.
Thailand is ready to work with China to resolutely combat online gambling and telecommunications fraud to further make the friendship between Thailand and China rooted in people's hearts, he said.
Anutin extended his gratitude for China's unremitting efforts in helping properly resolve the border conflict between Thailand and Cambodia, adding that he looks forward to China continuing to play a constructive role.
Noting China is a reliable and dependable strategic cooperative partner of Thailand, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that the saying "China and Thailand are one family" has a solid public opinion and social foundation and is showing even broader prospects.
Wang said that, facing a volatile international situation, China is willing to deepen mutual respect, trust and support with Thailand, and carry forward traditional friendship.
China stands ready to expand cooperation with Thailand in new energy, infrastructure, agriculture and other fields, promote the building of a more stable, prosperous and sustainable China-Thailand community with a shared future, and continuously make new contributions to regional stability and development, Wang said.
He expressed the hope that Thailand will intensify its efforts to crack down on online gambling and telecommunications fraud, creating a favorable environment for bilateral relations.
As a common friend of Thailand and Cambodia, China is willing to continue to build a platform for the two sides to engage in dialogue, rebuild mutual trust and improve relations, according to Wang.
China, Thailand agree to strengthen strategic alignment, enhance cooperation
China, Thailand agree to strengthen strategic alignment, enhance cooperation
China, Thailand agree to strengthen strategic alignment, enhance cooperation
