Marketplace®

Daily business news and economic stories
Donate
Sep 27, 2018

U.S.-imposed tariffs are hitting American firms’ bottom line

The CEO of one of the nation’s largest automakers says metal tariffs imposed by the Trump administration earlier this year have cost his company $1 billion in profits and sales. Ford boss Jim Hackett made the comment at a gathering of business leaders in New York on Wednesday. The administration imposed the steel and aluminum […]

by Renata Sago
Jim Hackett, president and chief executive officer, Ford Motor stands outside the headquarters as they celebrate the production of the 10,000,000 Mustang on August 8, 2018 in Dearborn, Michigan.
Jim Hackett, president and chief executive officer, Ford Motor stands outside the headquarters as they celebrate the production of the 10,000,000 Mustang on August 8, 2018 in Dearborn, Michigan.
JEFF KOWALSKY/AFP/Getty Images

The CEO of one of the nation’s largest automakers says metal tariffs imposed by the Trump administration earlier this year have cost his company $1 billion in profits and sales. Ford boss Jim Hackett made the comment at a gathering of business leaders in New York on Wednesday. The administration imposed the steel and aluminum levies to bolster American businesses.

Click the audio player above to hear the full story. 

Related Topics