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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:

Autoblog Podcast #414

Episode #414 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Seyth Miersma discuss the new 2015 Shelby GT and go over the finer points of Elon Musk's recent speech during the Detroit Auto Show. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #414 Topics 2015 Shelby GT Elon Musk speech in Detroit In The Autoblog Garage 2015 Lexus LX 570 2015 Dodge Charger Pursuit 2015 Toyota Prius C 2015 Lincoln Navigator Hosts: Dan Roth, Steven Ewing, Seyth Miersma Runtime: 01:17:58 Rundown Intro and Garage - 00:00 2015 Shelby GT – 32:41 Elon Musk – 41:33 Q&A - 54:48 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Dodge Lexus Lincoln Toyota toyota prius c shelby lincoln navigator lexus lx

2018 Lincoln Navigator Black Label Drivers' Notes Review | American luxury

For years, the Lincoln Navigator played second fiddle to the Cadillac Escalade. Even with a refresh a few years back, the big ute couldn't quite match what Cadillac (or anyone else in the class) offered. The design looked dated, and the interior felt a full generation behind. Things sure have changed, as the new Navigator might just be the first Lincoln in years that gets near-universal praise from the Autoblog staff. This class of SUV may not be everyone's cup of tea, but Lincoln deserves credit for doing more than just phoning it in. Our tester this week is a Chroma Crystal Blue short-wheelbase Navigator Black Label. That's the top-trim model, so features like heated and ventilated leather seating, full-LED lighting, a panoramic moonroof, a 20-speaker audio system and adaptive suspension are all standard. The only options on our 2018 model were the $1,750 paint and the $1,250 perfect-position seats. At $98,320, it isn't cheap, but it's right on the mark for the segment. Editor-in-Chief Greg Migliore: The Lincoln Navigator is a demonstrative improvement in luxury, power and design. It's more sophisticated and elegant than ever before, but it remains true to itself. The interior is gorgeous — the best-looking cabin I've ever seen in a Navigator — and it's the best in the segment. The Cadillac Escalade, which is still great but is due for a freshening, feels dated and less user-friendly inside, by comparison. Our Navigator, outfitted in the Black Label trim, looks like something out of a 1960s Camelot photo spread. The powder blue materials remind me of old pictures of Jackie Kennedy. The way the Lincoln crest appears above the glovebox also feels very Jet Age. The knobs, switches and buttons for the controls add to the retro look, but they're also tactile and functional. People don't want to navigate four touchscreens to adjust the heat. Lincoln and other carmakers are wisely going back to simplicity for interior features. That being said, the interior has all the modern features and amenities you would expect. Sync 3 is solid. The large touchscreen is easy to read and use. It's colorful and intuitive. Finally, it's a Sync system I can get on board with. The seats are comfortable, supportive, and the front ones can be positioned 30 different ways. There's so much variety I never found the perfect spot in my two nights in the Navigator. The exterior touches from the most recent redesign accentuate the Navigator's luxurious feel.