Analysts have warned that automakers won’t be able to absorb all of the costs created by tariffs, and it will result in price increases for U.S. consumers.

President Donald Trump’s auto tariffs will cost Ford $1.5 billion this year, but the automaker said Monday it does not expect overall US car prices to rise significantly as a result.

The automaker expects the duties to reduce 2025 adjusted earnings before interest and taxes by about $1.5 billion on a net basis this year, it said while reporting a first-quarter profit that beat expectations.