Trump metals tariffs will cost Ford $1 billion in profits, CEO says

By Nick Carey and David Shepardson (Reuters) - Steel and aluminium tariffs imposed by the Trump administration have cost Ford Motor Co about $1 billion in profits, its chief executive officer said on Wednesday, while Honda Motor Co said higher steel prices have brought "hundreds of millions of dollars" in new costs. "From Ford's perspective the metals tariffs took about $1 billion in profit from us," CEO James Hackett said at a Bloomberg conference in New York, "The irony of which is we source most of that in the U.S. today anyway

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