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Trumps tariffs are hurting manufacturers. Ford Motor Company is an example.
Ford Motor said Tuesday that it lost money in the second quarter as tariffs took a toll on its business. The company also said it expected tariffs to cost it a total of $2 billion this year.
The automaker lost $36 million from April through June, compared with a profit of $1.8 billion a year earlier, even as sales rose 5 percent to $50.2 billion.
Tariffs imposed by President Trump have been a recurring theme as automakers have reported earnings this month. General Motors, Stellantis, Tesla, Mercedes-Benz and Volkswagen have all cited tariffs as one of the main reasons their profits are falling.
Tariffs lopped $800 million from Ford profits during the second quarter, the company said. Its estimate of $2 billion in tariff costs for the year includes the impact of cost-cutting and other measures the company is taking in response to Mr. Trump’s trade policies.
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Ford Is Latest Carmaker to Blame Tariffs for Profit Slump
The company estimated that duties on imported cars and car parts would cost it $2 billion this year.Ford Motor said Tuesday that it lost money in the second quarter as tariffs took a toll on its business. The company also said it expected tariffs to cost it a total of $2 billion this year.
The automaker lost $36 million from April through June, compared with a profit of $1.8 billion a year earlier, even as sales rose 5 percent to $50.2 billion.
Tariffs imposed by President Trump have been a recurring theme as automakers have reported earnings this month. General Motors, Stellantis, Tesla, Mercedes-Benz and Volkswagen have all cited tariffs as one of the main reasons their profits are falling.
Tariffs lopped $800 million from Ford profits during the second quarter, the company said. Its estimate of $2 billion in tariff costs for the year includes the impact of cost-cutting and other measures the company is taking in response to Mr. Trump’s trade policies.
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