DETROIT -- Ford Motor Company says it is increasing the price of three of its most popular vehicles thanks to tariffs instituted by President Donald Trump. According to Reuters, the automaker informed dealerships this week that prices for the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase in the coming weeks.

Ford Motor Company has announced that it expects a $1.5 billion reduction in EBIT this year as the result of new import tariffs introduced by President Trump.

The automaker said its estimate of how much tariffs would hurt its finances include changes the company was making to reduce costs, including buying more parts and producing more vehicles in the United States. Excluding those measures, Ford expects tariffs to cost it $2.5 billion.