In the hours before Canadian Prime Minister Justin Trudeau announced a 30-day pause on US President Donald Trump’s threatened 25% tariff on Canadian goods, the co-founder of one of Canada’s largest auto parts manufacturers was bewildered.

Bank of Canada Governor Tiff Macklem said on Thursday a policy shift in the U.S. was causing uncertainty and President Donald Trump's tariff threats were already impacting businesses and households. Trump agreed on Monday to temporarily pause a 25% levy on almost all imports from Canada and Mexico,

Ford is the first major automaker to report earnings since Trump signed an executive order stating that the U.S. would impose 25% tariffs on goods from Mexico and Canada, which would affect Ford.

Ford is projecting its electric car business will lose another $5.5 billion dollars this year.That figure matches last year’s deficit and eclipses the $4.7 billion the company lost building EVs in 2023—so for those of you keeping track at home that's a projection of roughly $15 billion in losses.