Trade Cases
October 23, 2018
Companies Call for End to Tariffs and High Steel Prices
Written by Sandy Williams
Ford Motor Co. is calling on the administration to resolve steel and aluminum disputes that will cost the company more than a billion dollars in annual profits this year and next. The Section 232 tariffs have pushed U.S. steel prices well above those of foreign competitors and higher than Ford was expecting.
“U.S. steel costs are more than anywhere else in the world,” Joe Hinrichs, Ford’s president of global operations, said Monday at an event in Detroit. Ford has urged the administration to put an end to trade disputes. “We tell them that we need to have competitive costs in our market in order to compete around the world,” said Hinrichs.
