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Steel Tariffs Costing Ford 1 Billion

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Steel Tariffs Costing Ford 1 Billion

Old 10-30-2018, 01:43 AM
  #1  
Dominant Buck
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Default Steel Tariffs Costing Ford 1 Billion

This is the problem when government thinks they can micromanage the economy. 1 billion in profits lost. Many on this forum are being hit in their wallets. Car sales are hurting. Raising taxes on the American people is never good.

Reuters) - Steel and aluminum tariffs imposed by the Trump administration have cost Ford Motor Co (F.N) about $1 billion in profits, its chief executive officer said on Wednesday, while Honda Motor Co (7267.T) said higher steel prices have brought "hundreds of millions of dollars" in new costs.

"From Fordís perspective the metals tariffs took about $1 billion in profit from us," CEO James Hackett said at a Bloomberg conference in New York, "The irony of which is we source most of that in the U.S. today anyway. If it goes on any longer, it will do more damage."

Hackett did not specify what period the $1 billion covered, but a spokesman said the automaker's CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019.
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Old 10-30-2018, 10:33 AM
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If you want a new car...buy it before January 1, because I heard if the tariff crisis with China hasn't be solved by then --- the average price of a new car will increase $4,500 --- thanks to Trump.
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Old 10-30-2018, 01:58 PM
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Originally Posted by Erno86 View Post
If you want a new car...buy it before January 1, because I heard if the tariff crisis with China hasn't be solved by then --- the average price of a new car will increase $4,500 --- thanks to Trump.
Might do just that. Ford F150 or GMC Sierra. One made of aluminum and the other steel. decisions.... decisions. I would probably go with Ford again but that mandatory auto start stop feature which is an emissions saver according to the government, might be a deal breaker for me. I don't like any part of that.

Last edited by Champlain Islander; 10-30-2018 at 03:21 PM.
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Old 10-30-2018, 03:32 PM
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Originally Posted by Erno86 View Post
If you want a new car...buy it before January 1, because I heard if the tariff crisis with China hasn't be solved by then --- the average price of a new car will increase $4,500 --- thanks to Trump.
it hasn't been solved with anyone. He is keeping it in place with Canada and Mexico. The tariffs have done exactly what they do every time they're tried. They cost Americans jobs. Make everything more expensive for the common man. The dirty little secret, the Treasury Secretary made his billions from Steel tariffs.
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Old 10-31-2018, 08:10 AM
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Originally Posted by Champlain Islander View Post
Might do just that. Ford F150 or GMC Sierra. One made of aluminum and the other steel. decisions.... decisions. I would probably go with Ford again but that mandatory auto start stop feature which is an emissions saver according to the government, might be a deal breaker for me. I don't like any part of that.
Buy an F-250. They are considered a heavy duty truck and are exempt from all the govt BS.
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Old 10-31-2018, 09:28 AM
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Originally Posted by flags View Post
Buy an F-250. They are considered a heavy duty truck and are exempt from all the govt BS.
Hadn't considered that flags. I always get a half ton 4X4 truck and don't need a heavier plow truck so never considered one. Might give that some thought...thanks for the suggestion. Son in law has a new F150 with that start stop. Bad deal all around and would drive me nuts. There is a way to permanently bypass but requires pulling the dash apart and installing a jumper. Dealership won't touch it....they lose. Stupid thing and along with the lighter truck is Ford's way of getting the fleet closer to the future mileage standards. GMC and Chevy have the 8 cylinders drop to 4 when power not needed. That technology has been around for a while and makes much more sense. I have been told other than an idiot light telling you it is engaged it isn't noticeable.
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Old 10-31-2018, 10:59 AM
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I have that vortec V8 in my Avalanche.
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Old 10-31-2018, 02:03 PM
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It's sad you folks are incapable of having a truthful discussion on the tremendous impact on our economy and growth the steel tariffs are causing. If it weren't for them, we would be several points higher in growth.
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Old 10-31-2018, 03:53 PM
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It is difficult if not impossible to gain without some pain. The tariffs won't last much longer and without coming into a fight in a position of strength it is hard to win. I think Trump is right.
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Old 10-31-2018, 04:37 PM
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The tariffs have already resulted in the renegotiation of trade deals with Canada and Mexico. That was the reason for them in the first place, to bring countries to the table who were sticking it to the US regarding trade.
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