Ford Motor suspended its annual guidance on Monday because of uncertainty around U.S. President Donald Trump's tariffs, saying the levies would cost the company about $1.5 billion in adjusted earnings before interest and taxes.

Ford Motor Co. says it expects to take a $1.5 billion hit to its operating profit from tariffs this year and is withdrawing its full-year financial guidance due to the uncertainty created by the Trump administration's evolving trade policy.

Ever since President Trump announced he was slapping hefty tariffs on countries across the globe, he has been predicting they would force trading partners to sign major deals beneficial to the United States.

President Donald Trump’s tariffs rollout is frustrating U.S. companies’ planning for the rest of the year, preventing some corporate giants from telling investors what to expect and scrambling the broader outlook for stocks.

While President Donald Trump promises his tariffs will be a net positive for the United States in the long run, his arguments for them in recent days have caused widespread blowback and could become a feature of Democratic attack ads in the midterm elections.