U.S.-imposed tariffs are hitting American firms’ bottom line

Renata Sago Sep 27, 2018
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Jim Hackett, president and chief executive officer, Ford Motor stands outside the headquarters as they celebrate the production of the 10,000,000 Mustang on August 8, 2018 in Dearborn, Michigan. JEFF KOWALSKY/AFP/Getty Images

U.S.-imposed tariffs are hitting American firms’ bottom line

Renata Sago Sep 27, 2018
Jim Hackett, president and chief executive officer, Ford Motor stands outside the headquarters as they celebrate the production of the 10,000,000 Mustang on August 8, 2018 in Dearborn, Michigan. JEFF KOWALSKY/AFP/Getty Images
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The CEO of one of the nation’s largest automakers says metal tariffs imposed by the Trump administration earlier this year have cost his company $1 billion in profits and sales. Ford boss Jim Hackett made the comment at a gathering of business leaders in New York on Wednesday. The administration imposed the steel and aluminum levies to bolster American businesses.

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