Ford Ratchets Up Rebuke of Trump Tariffs as Steel Costs Rise
- Metal is costliest in the U.S., Ford President Hinrichs says
- Carmaker’s CEO cited $1 billion hit to profit linked to levies
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Ford Motor Co. said Donald Trump’s tariffs have made steel more expensive in the U.S. than any other market, escalating the company’s criticism of the president’s trade war.
“U.S. steel costs are more than anywhere else in the world,” Joe Hinrichs, Ford’s president of global operations, said Monday at an event marking the start of Ranger pickup production at a factory west of Detroit. He added that Ford is talking to the administration about the tariffs: “We tell them that we need to have competitive costs in our market in order to compete around the world.”