Donald Trump's China tariffs will cost Ford $1 billion, CEO Jim Hackett says

[dalton99a]

https://www.usatoday.com/story/money/nation-now/2018/09/26/china-tariffs-donald-trump-ford-ceo-jim-hackett/1433220002/

Donald Trump's China tariffs will cost Ford $1 billion, CEO Jim Hackett says
Detroit Free Press Staff | Published 1:35 p.m. ET Sept. 26, 2018 | Updated 2:48 p.m. ET Sept. 26, 2018

Ford CEO Jim Hackett told Bloomberg Television on Wednesday that his company faces $1 billion in lost profits from President Donald Trump's tariffs.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said. “If it goes on longer, there will be more damage.”

A Ford spokesman told the Detroit Free Press that Hackett was referencing Ford internal forecasts of an increase of about $1 billion in steel and other metal costs in 2018 and 2019 due to tariffs.

Hackett described business as stalled by the uncertainty over Trump's tariffs on steel and aluminum from China and Canada, which have led to a range of retaliatory tariffs.

[Doreen]

1. If they did not support trump that sucks.

If they did support trump then oh well.