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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:

2013 Lincoln MKS EcoBoost

A Bench-Warmer In Waiting
I hail from Cleveland, and that means I'm familiar with sports franchises that are always falling short of championships. The Indians, the Browns, the Cavs - they've all come close, but being a resident of C-Town means learning to appreciate the effort more than a reward that never seems to come. So I can appreciate the situation in which Lincoln finds itself today, one where the past is full of repeated attempts to be competitive, and looming on the future's horizon is the next hope on which everything hinges.
That next hope for Lincoln is not the car you see here, but rather the smaller, all-new 2013 MKZ sedan. Like LeBron James entering Gund Arena for the first time, the MKZ will enter dealerships this fall as the brand's chosen savior, markedly more stylish, advanced and desirable than anything offered by Lincoln in recent memory. And that would make this car, the 2013 Lincoln MKS EcoBoost, one of the other 20 guys whose names I can't remember who played alongside LeBron during his rookie season.

Production 2017 Lincoln Continental arrives with 400-hp V6

Lincoln still isn't saying much about its new flagship, the long-awaited Continental. Instead, it's got to get everyone's attention. The brand that's been threatening to get a genuine luxury game going for years probably wants people to sit inside the fullsize sedan to learn what it's got, and we think that's a great idea. One good bit we know is that the new Continental is powered by a 3.0-liter, twin-turbo V6 with "a projected" 400 horsepower and 400 pound-feet of torque. We also know the marketing folks have the luxury-speak down, with lavish promises of heated, cooled, and massaging Perfect Position 30-way seats that adjust to shape and weight, as well as climate-controlled seats for rear passengers that also recline, and "generous rear legroom." Themed interior appointments come in Chalet, Thoroughbred, and Rhapsody selections, perceived-quality boosted further by a specific number of stitches-per-inch on the leather, a laser-cut door on the instrument panel, and real wood and aluminum trim. Acoustic laminated glass, active noise control, and available Revel audio are meant to insure serenity. Technology points are scored with optional adaptive steering and all-wheel drive, three drive modes, dynamic torque vectoring, surround-view cameras, adaptive cruise control, and pre-collision braking. We will really begin to know the new Continental when we sit in it later today at the Detroit Auto Show, for now there's the press release below. All-New Lincoln Continental Delivers Quiet Luxury: Elegant, Effortlessly Powerful, Serene - Lincoln Motor Company introduces its elegant new flagship – the all-new Continental – coming this fall - Effortless power comes from new 3.0-liter twin-turbocharged V6 engine that produces a projected 400 horsepower and 400 lb.-ft. of torque1; advanced safety technology is also featured - Serene interior offers the comfort of Lincoln's innovative Perfect Position Seat, spaciousness, rear seat amenities, Revel® audio system and top-grade materials DETROIT, Jan. 12, 2016 – Lincoln Motor Company heralds the return of its flagship – the all-new Lincoln Continental – an elegant, effortlessly powerful, serene full-size sedan that delivers quiet luxury to the industry's most discerning customers. Beginning this fall, Continental offers first-class travel for clients in America and China, bringing warm, human touches and a contemporary design.