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The Water Cooler
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Tariffs: Saving American Jobs Since...Wait, What?
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<blockquote data-quote="Hobbes" data-source="post: 3138052" data-attributes="member: 3371"><p>Ford Motor Co. on Wednesday reported a 48% drop in second-quarter net income and lowered its 2018 profit outlook, citing tariff-related commodity cost pressures and trouble in Asia and Europe. It also outlined plans for a broad, multiyear restructuring that could result in $11 billion in charges.</p><p></p><p>Ford’s <a href="https://www.marketwatch.com/investing/stock/f?mod=MW_story_quote" target="_blank">F, -0.47%</a> net income of $1.1 billion was hampered by about $300 million in higher commodity costs compared with a year earlier, nearly half of which stemmed from U.S. tariffs on steel and aluminum, Chief Financial Officer Bob Shanks said during a roundtable discussion with reporters. The company expects the effect of the tariffs to shave as much as $600 million from the bottom line this year, Shanks said.</p><p></p><p><a href="https://www.marketwatch.com/story/ford-lowers-full-year-outlook-2018-07-25-171033048" target="_blank">https://www.marketwatch.com/story/ford-lowers-full-year-outlook-2018-07-25-171033048</a></p></blockquote><p></p>
[QUOTE="Hobbes, post: 3138052, member: 3371"] Ford Motor Co. on Wednesday reported a 48% drop in second-quarter net income and lowered its 2018 profit outlook, citing tariff-related commodity cost pressures and trouble in Asia and Europe. It also outlined plans for a broad, multiyear restructuring that could result in $11 billion in charges. Ford’s [URL='https://www.marketwatch.com/investing/stock/f?mod=MW_story_quote']F, -0.47%[/URL] net income of $1.1 billion was hampered by about $300 million in higher commodity costs compared with a year earlier, nearly half of which stemmed from U.S. tariffs on steel and aluminum, Chief Financial Officer Bob Shanks said during a roundtable discussion with reporters. The company expects the effect of the tariffs to shave as much as $600 million from the bottom line this year, Shanks said. [URL]https://www.marketwatch.com/story/ford-lowers-full-year-outlook-2018-07-25-171033048[/URL] [/QUOTE]
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