Ford Reports Higher Profit Thanks Partly to Tariff Refund

The tariff refund is the result of a February decision by the Supreme Court that found President Trump had exceeded his authority when he imposed tariffs under the International Emergency Economic Powers Act 1977. That law grants the president certain powers in national emergencies. This month, the administration set up a system through which businesses can request refunds.

While the court struck down the emergency powers tariffs, other levies on imported steel, aluminum, automobiles and auto parts remain in place because they were imposed under a different law.

On Tuesday, General Motors said it expected to receive $500 million in tariff refunds. Although the refunds have not yet been paid, both automakers recorded their gains in the first quarter.

Some of the good news on the tariff front will be offset by higher costs elsewhere.

Ms. House said Ford now expected its cost of commodities — for materials such as aluminum and steel — to rise about $2 billion this year, twice the sum it previously expected. Ms. House said the company was experiencing shortages of aluminum even before the U.S.-Israeli war in Iran, and the conflict has raised costs and reduced supplies further.

Ford has struggled to find enough aluminum since last fall when its supply was disrupted by a serious fire at a plant in Oswego, N.Y., owned by Novelis.

Article source: https://www.nytimes.com/2026/04/29/business/ford-motor-tariff-refund-profit.html