Ford CEO Says Trump Metals Tariffs Took $1 Billion of Profit
- ‘There will be more damage’ if import taxes remain in place
- Hackett sees Nafta agreement ‘soon;’ time to ‘deal with China’
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Ford Motor Co. Chief Executive Officer Jim Hackett encouraged President Donald Trump’s administration to resolve trade disputes quickly or it could do “more damage” to his company, which is already suffering losses from tariffs imposed by the White House.
“The metals tariffs took about $1 billion in profit from us -- and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview on Bloomberg Television. “If it goes on longer, there will be more damage.”