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Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video:

Ford to show special edition Raptor on April 9

There are precious few details, but what we do know is that Ford will be revealing images of "appearance upgrades" for a special-edition 2014 F-150 SVT Raptor on April 9. The slideshow will happen during a Motor Press Guild luncheon at Ford's Design Center Showroom in Irvine, California.
Without photos or further details, we're left to wonder about the extent of these changes, but aren't expecting anything too significant given the venue. Ford is understood to be revealing a next-generation F-150 with a big weight loss - as much as 700 pounds - for 2014, though it isn't yet clear if that's the truck's model year or simply its on-sale year. For at least a couple of years, Ford forums have been suggesting changes will come with the 2014 Raptor, so there could still be a bigger surprise in store. Either way, we'll know what all this means in a little more than a week. The press release below has the official details, but for the moment, we'll content ourselves by ogling the 2013 model above.

Ford Escort is ready to focus on the Chinese market

Ford officially revived the Escort name in China, showing of the new, four-door compact at the Beijing Motor Show. Painted in a stylish brown-bronze, the new sedan wears a number of global Ford styling cues while sharing its platform with the Ford Focus.
Power for the new model comes from a 1.5-liter four-cylinder, although Ford doesn't specify just how much power is on offer, simply saying that the fuel economy of the new mill will be "outstanding." It's unclear what transmission will be distributing the engine's power, although based on the images we've seen, the Escort will definitely offer a two-pedal setup.
The layout of the cabin is fairly clean, although as we mentioned in our initial post on the new Escort, it's a decidedly sparser environment than we've grown use to in US-spec Fords of late. If anything, it's like a weird blend of current Ford switchgear with an overall look that reminds us of older Ford layouts. Still, it looks like a comfortable way of moving five people about without too much fuss. There's ample space both front and rear, and a rather spacious trunk.