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Ford and other companies expecting billions in tariff impacts this year - National | Globalnews.ca

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Many global automakers are planning for the costly impact of the trade war.

Some say they expect to see profits drop by billions of dollars by the end of the year .

Companies like Ford , General Motors , Volkswagen , Stellantis , and many others expect tariffs to lead to higher costs to manufacture vehicles.

The Trump administration has provided some tariff relief for automakers in the United States .

Tariffs will increase costs for all automakers in the United States by close to a combined total of US$108 billion this year .

Automotive dealerships are preparing to increase sticker prices that consumers will have to pay.

Higher prices could lead to fewer sales and this drop in revenue is expected to lead companies to cut costs to maintain profitability.