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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:

2015 Lincoln Navigator ready to roll for $62,475*

Fancy picking up a refreshed Lincoln Navigator? Well, prepare to shell out at least $62,475. That's a whopping increase of $6,310 for the now-EcoBoost-equipped SUV.
That's just for the two-wheel-drive Select model, though. Want to drive all four wheels? Better have an extra $3,575 laying around. Snagging the top-of-the-line Reserve model, meanwhile, demands a premium of $7,500.
For those extra bills, you'll net Lincoln Drive Control, complete with continuously controlled dampers, power running boards, Ziricote wood interior trim, upgraded leather, 22-inch wheels, a "unique" interior headliner and, of course, a "Reserve" badge.

McConaughey's bizarre new Continental ad is perfect parody material

So let's say you're running a car company and have a luxurious new flagship sedan and need to advertise it. What do you do? Did you answer with "film a commercial with a barely coherent Hollywood actor standing in a pond?" If so, perhaps you work for Lincoln, which brought back Matthew McConaughey to do another bizarre car ad. It starts with McConaughey and a Continental standing on a body of water. He starts talking about staring (or not staring) at the Conti, and then about sitting in the back seat (or not). The ad then cuts to McConaughey in the back who replies to the McConaughey in the front seat. Presumably, there are two McConaugheys at this point, and the front seat one just laughs in a slightly unsettling manner. He then makes a clicking noise, closes the center console and drives away. You can't make this stuff up. It's thoroughly strange, but we can't say we're entirely surprised. When Lincoln first launched some bizarre ads with McConaughey muttering sweet nothings about the MKC, the company got loads of attention. Admittedly a lot of that attention was to make fun of it, but you know the old saying that there's no such thing as bad press. Lincoln even brought him back for an encore in ads for the MKX and MKZ. In truth, we're also glad to see another bizarre Lincoln ad, mostly because we're hoping for another round of great parodies like the classic Jim Carrey spoof that aired on Saturday Night Live. Check out the ad above to see the strangeness. Related Video: