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 billion.

CEO Antonio Filosa said that Stellantis supports U.S. President Donald Trump’s strategy to boost the creation of jobs and U.S. auto production “using also tariffs as a tool,’’ Filosa said. Filosa, who was confirmed as chief executive last month,