Ford CEO Says Trump Tariffs Lost Company $1 Billion In Profit
- 6 years ago
According to Business Insider, Trump's tariffs on steel and aluminum cost the Ford Motor Company about $1 billion in profit.
And Ford's CEO Jim Hackett said tariffs on metal will continue to do damage as long as they are imposed.
While speaking at the Bloomberg business forum conference, Hackett added that the tariffs are ironic for the car company, which sources most of it's steel and aluminum domestically.
Hackett also cautioned that tariffs can also lead to higher domestic commodity prices.
And Ford's CEO Jim Hackett said tariffs on metal will continue to do damage as long as they are imposed.
While speaking at the Bloomberg business forum conference, Hackett added that the tariffs are ironic for the car company, which sources most of it's steel and aluminum domestically.
Hackett also cautioned that tariffs can also lead to higher domestic commodity prices.