someoneyouknow
Literotica Guru
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- Jun 5, 2006
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DETROIT - Ford CEO Jim Hackett says the Trump administration's tariffs on imported steel and aluminum will cost the company $1 billion.
"The irony is we source most of that in the U.S. today anyways," Hackett told Bloomberg television, explaining that the automaker gets most of its metals from domestic producers and that those companies have raised their prices. "We're in a good place right now, but if it goes on longer there'll be more damage."
IHS Markit estimates that full implementation of the 232 tariffs would add between $1,800 and $5,700 to a new vehicle’s price tag and cut new auto sales by around 2.2 million units in 2020 as well as slice total sales to as little as 14.5 million units from expectations of 17 million vehicles this year.
The new tariffs would also cost around 300,000 in auto-related jobs in factories and dealerships across the country, and slash U.S. economic growth by 1.1 percentage points to 2.2 percent, IHS said.
So much winning.
https://www.cbsnews.com/news/ford-ceo-steel-aluminum-tariffs-will-cost-automaker-1-billion/
https://www.reuters.com/article/us-ford-motor-tariffs/trumps-tariffs-on-metals-costs-ford-1-billion-ceo-says-idUSKCN1M61ZN
"The irony is we source most of that in the U.S. today anyways," Hackett told Bloomberg television, explaining that the automaker gets most of its metals from domestic producers and that those companies have raised their prices. "We're in a good place right now, but if it goes on longer there'll be more damage."
IHS Markit estimates that full implementation of the 232 tariffs would add between $1,800 and $5,700 to a new vehicle’s price tag and cut new auto sales by around 2.2 million units in 2020 as well as slice total sales to as little as 14.5 million units from expectations of 17 million vehicles this year.
The new tariffs would also cost around 300,000 in auto-related jobs in factories and dealerships across the country, and slash U.S. economic growth by 1.1 percentage points to 2.2 percent, IHS said.
So much winning.
https://www.cbsnews.com/news/ford-ceo-steel-aluminum-tariffs-will-cost-automaker-1-billion/
https://www.reuters.com/article/us-ford-motor-tariffs/trumps-tariffs-on-metals-costs-ford-1-billion-ceo-says-idUSKCN1M61ZN
