Ford Motor Co. reported first quarter profits down across all its divisions, but it said it has managed to mitigate some tariff exposure.

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.

Tariff-related uncertainty led the company to withdraw its profit forecast for the year.