The Federal Reserve on Thursday announced that it will not buy bonds from Ford, the nation’s largest automaker.
Trump’s administration has not yet provided any additional information on the bailout, which would have covered the company’s massive debt burden.
Ford was the only company that received a bailout during the Obama administration.
The company announced in September that it would take a $2 billion charge on its debt, which is about $1.7 billion larger than it had previously disclosed.
The auto maker’s debt is more than double the $1 billion it had reported to investors last week.
It had previously said it would be able to pay its bondholders in full by March.
The Treasury Department has said it is willing to buy up to $1 trillion in debt from other companies in the event of a financial crisis.
The announcement came just hours after Trump signed an executive order aimed at keeping jobs in the United States.
The order called for a $1,000 tax credit to help people who want to retire and get rid of their mortgages, which were among the reasons why Ford was awarded a $4 billion bailout.
Trump has been criticized by the auto industry for his response to the Flint water crisis and the auto bailout, but he has promised to build a wall on the U.S.-Mexico border.