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 is less affected by President Trump’s 25 percent tariffs on vehicles than other automakers because most of the vehicles it sells in the United States are made in the country. General Motors said last week that the tariffs would increase its costs $4 billion to $5 billion this year.