transporter
Well-Known Member
Ford sees higher metal costs, hopes China and U.S. can settle trade issues
Kinda interesting how ignorati like Gilligan cheer for the end of regulations because they cut into profits, but the same people don't understand that tariffs do exactly the same thing.
Based on the article Trump cheered Ford's $850M investment in the Wayne, MI plant. During their most recent market commentary, Ford said the tariffs have cost the company $1B in lost profits.
WAYNE, Mich. (Reuters) - Ford Motor Co (F.N) has seen higher steel and aluminum costs driven by trade tariffs bite into profit, but is hopeful the United States and China can avoid further tensions that could make things more costly, a top Ford executive said on Monday.
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“They’re certainly up year over year and they’re up versus what we were expecting,” Joe Hinrichs, Ford executive vice president and president of global operations, said of steel and aluminum costs.
U.S. steel costs are higher than anywhere else in the world, Hinrichs told reporters. Ford officials have been working with all the parties involved, including the U.S. government, to address the issues, he said at a plant in Wayne, Michigan, to celebrate next week’s production launch of the Ranger midsize pickup truck.
Kinda interesting how ignorati like Gilligan cheer for the end of regulations because they cut into profits, but the same people don't understand that tariffs do exactly the same thing.
Based on the article Trump cheered Ford's $850M investment in the Wayne, MI plant. During their most recent market commentary, Ford said the tariffs have cost the company $1B in lost profits.