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.

Production halts and an unprofitable EV business nearly wiped out Ford Motor’s net profit in the first quarter, the company said Monday. Ford reported net income of $471 million, down from $1.3 billion a year earlier.