1969 Ford F-100 Ranger 4x4 on 2040-cars

Auto blog

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:

Detroit 3 and UAW set for showdown over tiered wages

This week, thousands of United Auto Workers will converge on Cobo Center in Detroit for the Special Convention on Collective Bargaining, an every-four-year event that lets members tell UAW leaders what the negotiating priorities should be during contract negotiations. This is where a lot of sand and a lot of lines start coming together in preparation for contract negotiations between the UAW and the Detroit 3 automakers, which will happen later this year. Number one on the UAW agenda is the end of the two-tier wage system created in 2007 to help the automakers get through bankruptcy; veteran workers are paid the Tier 1 rate of around $29.00 per hour, new hires are paid the Tier 2 rate of between $15 and $20 and get about half the benefits of Tier 1. Tier 2 hiring has been an undoubted success for the automakers, allowing them to keep factories in the US and hire more workers. By agreement, it is capped at a certain percentage of each automaker's workforce, and while the union's ultimate position is to get rid of the dual-scale system entirely; one leader said Ford could easily afford the $335 million it would take to convert all its workers to Tier 1 out of its $6.9 billion in 2014 North American profit, and General Motors could do the same out of the $5 billion it is handing to investors through the (admittedly forced) share buyback. Other delegates say that at the very least they'd be happy with enforcement of the current caps in the new contract. The automakers, conversely, would welcome expansion of the Tier 2 ranks. Including benefits, import automakers pay workers "in the high $40 range" per hour, according to an analyst, while Ford and GM pay about $59 in wages and benefits per hour. More Tier 2 workers on the rolls would let those two companies get labor cost parity with the competition. Fiat-Chrysler pays wages closer to the imports because of special exceptions in its UAW contract that allow unlimited Tier 2 hiring; those exceptions will end on September 14 and bring FCA into line with the other domestics, unless the new contract maintains them. FCA CEO Sergio Marchionne is opposed to the two-tier system, having called it "almost offensive." One analyst says the UAW might win a sizable pay raise for Tier 2 and a small increase for Tier 1, but the keystone issue will be how the hiring matrix can help the automakers keep overall wages in line with the imports.

2021 Ford Raptor vs Ram TRX Specs Compared

Hopefully by now you've had a chance to read our thorough 2021 Ford F-150 Raptor review. If not, check it out, 'cause you'll find a lot more detail and expertise than normal (for Autoblog or anywhere) thanks to Dan Edmunds' vast engineering and off-roading background. If you want all the dirt on the Raptor, pun intended, that's where to turn. If you just want to gaze at the specs, however, and wonder how they compare to the old Raptor or to the Ram TRX, check out the chart below. There you will find dimensions, clearances, angles, weights, capacities, engine output and fuel economy for the 2021 Raptor with both 35-inch and 37-inch tires. As Dan explains in his first drive, there's actually more going on there than just tire sizes. You'll find the same specs for the outgoing second-generation Raptor plus the 2021 Ram 1500 TRX and the less extreme Ram Rebel trim level in the chart, too.  Other reviews and deep dives about the F-150 and TRX 2021 Ram 1500 TRX First Drive Review Our review of the Raptor's chief competitor, the mighty TRX. That just sounds like we're talking about Jurassic Park.    2021 Ram TRX Suspension Deep Dive and RTI ramp test Follow along with engineer Dan Edmunds as he takes you under the TRX and explains everything there is to know about its suspension -- and how it's able to do what it does.    2021 Ford F-150 Full-Line Review   2021 Ford F-150 Suspension Deep Dive It's a totally different F-150 flavor to be sure, but even the volume-selling XLT received a lot of work for 2021. Dan Edmunds takes you underneath the truck to show you what's different and what difference it makes.    Photo Galleries of Each Truck 2021 Ford F-150 Raptor 2021 Ford F-150 Raptor View 16 Photos   2021 Ram 1500 TRX 2021 Ram 1500 TRX front 3/4 in motion View 53 Photos   Ram 1500 Rebel 2019 Ram 1500 Rebel View 42 Photos   Second-Generation Ford Raptor 2019 Ford F-150 Raptor View 37 Photos