Ford Calls Rising Steel, Aluminum Prices ‘Significant Headwind’
An employee works on a Ford Motor Co. Expedition SUV on the assembly line at the Ford Kentucky Truck Plant in Louisville, Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Rising steel and aluminum prices, driven up by President Donald Trump’s tariffs on those commodities, are a substantial drag on Ford Motor Co.’s business, though a top executive said the company doesn’t plan to pass higher costs on to consumers.
“The escalation of steel and aluminum prices is really significant,” Jim Farley, Ford’s president of global markets, said after a factory ceremony near Detroit to commemorate building the 10 millionth Mustang muscle car. “It’s a significant headwind for us. It’s something that puts pressure on our own costs.”