Ford CEO Jim Farley says the company will take a $1.5 billion tariff hit in 2025. Bill Pugliano/Getty Images

Ford is about as American as it gets. While many of its competitors build large portions of their vehicles abroad, the Detroit-based automaker manufactures about 80 percent of its U.S. vehicles domestically. Still, Ford isn’t immune to the Trump administration’s tariffs. CEO Jim Farley said yesterday (May 5) that the company expects to take a $1.5 billion hit this year due to tariffs—after absorbing $1 billion of their impact through cost cutting.

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