Metal Tariffs Will Cost Ford $1B

Sept. 27, 2018
Steel and aluminum tariffs imposed by the Trump administration have cost Ford Motor Co (F.N) about $1 billion in profits.

September 27, 2018— Steel and aluminum tariffs imposed by the Trump administration have cost Ford about $1 billion in profits, reported Reuters.

While the vast majority of steel and aluminum that Ford uses for U.S. production is made domestically, it has said the tariffs could result in higher domestic commodity prices, according to the report.

The United States said in March it would impose a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum from most countries. The tariffs have allowed U.S. producers to raise their prices.

According to Reuters, President Donald Trump’s steel and aluminum tariffs will boost car prices by hiking commodity costs for manufacturers, automakers have warned.

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

How Fender Bender Operator of the Year, Morrow Collision Center, Achieves Their Spot-On Measurements

Learn how Fender Bender Operator of the Year, Morrison Collision Center, equipped their new collision facility with “sleek and modern” equipment and tools from Spanesi Americas...

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Coach Works implements the Spanesi Touch system

Coach Works Uses Spanesi Equipment to Ensure a Safe and Proper Repair for Customers