Tariffs Hit Detroit: Ford Takes a $3B Blow
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Tariffs rock Ford. Who was it? Was it Chevy or Ford who had that Bob Seeger like a rock commercial? I can’t remember. the Ford Motor Company is, begging. Yeah, they’re begging the Trump administration for relief. Tariffs are crushing them. There was a fire. There was a fire that there was a, actually it’s an aluminum
plant up in Oswego, New York. Oswego is a cold little town, college town right on the lake. It gets real cold there in the wintertime. yeah, they had a fire at the Novellis Aluminum Rolling Plant. And that facility is offline at least until this June. That is where
That’s a, well, it’s a largest supplier of domestic aluminum for the U.S. automotive industry. Companies Ford, Stellantis, GM, ouch, okay, offline. So they had to continue to make cars and again, you gotta buy aluminum. So they gotta get them from Atlanta based Novellas, which is a unit of Hindalco Industries, okay?
This stuff is made in Europe and South Korea, the aluminum and it’s shipped in 50 % tariff on that 50 % so for Neon come on man. Come on. Can you give us a break on the tariffs? We have to you know, we have to make trucks we have to make cars. It’s just gonna cost us a fortune. They’re not
They’re not budging on this thing at all. Again, you take a look at the cost. $2 billion hit. $2 billion hit so far with another expected billion dollars. That’s a cost. Okay, now let’s.
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Explain this to you. Okay. Yeah, it’s ford gonna have to Eat some of this. Absolutely Absolutely, um, they can only charge so much for a pickup truck only charge so much for a car Um have they raised their prices sure they are They’re gonna try to recoup as much as they can from you The consumer the customer that’s what tariffs do but then again when you get to a point in time Well, you’re selling a product
You can’t raise it anymore. Well, yeah. Yeah. The corporation will take the hit on that. So, you know, it’s kind of funny because you watch the, you know, the ongoing debate that takes place and part of the conspiracy to keep people poor and stupid. The elephants and donkeys when it comes to taxation and the donkeys will jump up and down about.
you know, corporate taxes and corporations paying their fair share and this one’s not paying their fair share and then you’ll get the, you know, the elephants out there say, are you going to get tariff revenue? That’s the way to do it will make foreign countries pay. You pay either scenario, either scenario, you we all pay. Watchdog on Wall Street.
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