Stellantis NV sees tariffs setting back earnings by about €1.5 billion ($1.7 billion) this year as higher duties hit the Jeep maker’s already struggling North American business.

Stellantis is forecasting that U.S. tariffs would cost the carmaker $1.7 billion this year, five times the hit taken in the first six months of the year when the carmaker tallied losses of $2.65 billi

Stellantis CEO Antonio Filosa admits it has been a difficult year for the automaker, but he says the company is focused on kick-starting a recovery. Stellantis released first-half financial results that showed a €2.