MILAN (AP) — Stellantis is forecasting that U.S. tariffs would cost the carmaker $1.7 billion this year. The announcement on Tuesday is five times the hit taken in the first six months of the year when the carmaker tallied losses of $2.65 billion. The maker of Jeep, Chrysler, Fiat and Peugeot cars said that net profits plummeted from $6.5 billion in the same period last year as it burned through $3.8 billion in cash. Stellantis said that U.S. President Donald Trump’s tariffs cost the company $346 million in the first six months of the year. U.S. shipments were down by nearly a quarter during that period as the carmaker reduced the importation of vehicles produced abroad.
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