Ford: US steel most expensive thanks to Trump tariffs

[Zippyjuan]

https://www.detroitnews.com/story/bu...fs/1728847002/

Wayne — A Ford Motor Co. executive vice president says steel now costs more in the United States than any other place in the world thanks to President Donald Trump's tariffs on imported steel.

U.S. steel prices are "certainly up year over year, and they're up versus what we were expecting," Joe Hinrichs, Ford president of global operations, said Monday. "U.S. steel is costing more than anywhere else in the world."

Ford CEO Jim Hackett said previously that the steel and aluminum tariffs were projected to cost Ford $1 billion even though the automaker sources most of its steel and aluminum from U.S. companies.

Hinrichs said Ford officials have been talking to the Trump administration about the tariffs: "The government knows our position about where we need to be in order to be competitive globally. We tell them that we need to have competitive costs in our market to be able to compete around the world."

Ford, General Motors Co., and Fiat Chrysler Automobiles NV all adjusted full-year earnings outlooks in the second quarter due to then-rising costs of steel and aluminum.

More at link.

[Jamesiv1]

Ford is apparently run by a bunch of left-wing libs. If they don't love America they can get out.

[Swordsmyth]

Scapegoating and shilling for the ChiComs.

Ask yourself why they never make this kind of fuss about all the government regulations that cost them far more.

[idiom]

Scapegoating and shilling for the ChiComs.

Ask yourself why they never make this kind of fuss about all the government regulations that cost them far more.

Because they are bad at economics, which is why they ignored Deming and why they keep going bankrupt. They are basically marxists.

[phill4paul]

Ford is apparently run by a bunch of left-wing libs. If they don't love America they can get out.

They are globalists through and through. CEO Hackett is known for trimming companies and is now doing the same at Ford. He is trimming 24k, GLOBAL, WHITE COLLAR, jerbs. Fords is still making plenty profit, they are just whining because they want an tariff exemption so they can make moar money. They are phasing out all cars including the successful Focus and Fusion (excepting, of course, the Mustang). This shift is due to #1) foreign and domestic competitors are beating them on what customers want and #2) the consumers are moving to SUV's. Estimates that 70% of new car sales will be for SUV's in America. We like big vehicles. So, all in all, Hackett is #1) looking for exemptions and #2 hedging so if his vision doesn't work he can blame Trump.

[Zippyjuan]

They are globalists through and through. CEO Hackett is known for trimming companies and is now doing the same at Ford. He is trimming 24k, GLOBAL, WHITE COLLAR, jerbs. Fords is still making plenty profit, they are just whining because they want an tariff exemption so they can make moar money. They are phasing out all cars including the successful Focus and Fusion (excepting, of course, the Mustang). This shift is due to #1) foreign and domestic competitors are beating them on what customers want and #2) the consumers are moving to SUV's. Estimates that 70% of new car sales will be for SUV's in America. We like big vehicles. So, all in all, Hackett is #1) looking for exemptions and #2 hedging so if his vision doesn't work he can blame Trump.

The profit margin is also bigger on trucks and SUVs. And Americans buy far more of them.

Ford Focus sold a whole 7,185 units in September. 158,000 for the year 2017 in the United States. http://carsalesbase.com/us-car-sales...rd/ford-focus/

Ford Fusion sold almost 16,000 in September and 209.623 for 2017. http://carsalesbase.com/us-car-sales...d/ford-fusion/

Their F-Series pick-up sold almost 900,000. https://www.caranddriver.com/flipboo...ost-of-them#21

1. Ford F-series (896,764 sold)

Ford’s F-series pickup finishing the year as 2017’s best-selling vehicle is about as shocking as a Star Wars film performing well at the box office. With a lead of more than 300,000 units over the second-place Chevrolet Silverado, the F-series has now topped the year-end sales list for 41 years straight. Many of the sales come from fleets, and this number includes the Super Duty lineup, but there’s no questioning Ford’s constantly evolving abilities to build solid pickups that Americans want. More impressive is the continued growth of the nameplate: Ford sold about 75,000 more F-series vehicles than it did in 2016.

[phill4paul]

The profit margin is also bigger on trucks and SUVs. And Americans buy far more of them.

Ford Focus sold a whole 7,185 units in September. 158,000 for the year 2017 in the United States. http://carsalesbase.com/us-car-sales...rd/ford-focus/

Ford Fusion sold almost 16,000 in September and 209.623 for 2017. http://carsalesbase.com/us-car-sales...d/ford-fusion/

Their F-Series pick-up sold almost 900,000. https://www.caranddriver.com/flipboo...ost-of-them#21

Thank you for confirming everything I wrote? You know what uses more steel than cars? Trucks and SUV's. Americans will buy. Profit margins might not be as high for Ford for awhile, but the idea is to bring jobs back to America by getting rid of bad deals. You know who buys new Trucks and SUV's? Employed people. That's who.

[brushfire]

Ford should have taken the bailout and kept producing cars that dont sell. Grain, sugar, and steel - we all benefit from central planning. ...and if you disagree with me, your a commie loving leftist libtard.

[devil21]

Ford should have taken the bailout and kept producing cars that dont sell. Grain, sugar, and steel - we all benefit from central planning. ...and if you disagree with me, your a commie loving leftist libtard.

I see what you did there.

Ford isn't even close to the only company complaining about tariff impact. Polaris CEO was vocal about it today and wants an exemption. Even Harley-Davidson is moving some production to China to get the lower steel prices and laying off workers here. Seems they think it will be cheaper to ship bikes back across the ocean than pay domestic steel prices, while more directly supplying the burgeoning Chinese consumer market and the EU market. Gee, I wonder why Shillsmyth never posts those threads?

[Zippyjuan]

I see what you did there.

Ford isn't even close to the only company complaining about tariff impact. Polaris CEO was vocal about it today and wants an exemption. Even Harley-Davidson is moving some production to China to get the lower steel prices and laying off workers here. Seems they think it will be cheaper to ship bikes back across the ocean than pay domestic steel prices, while more directly supplying the burgeoning Chinese consumer market. Gee, I wonder why Shillsmyth never posts those threads?

He loves tariffs and the disruptions they cause.

[phill4paul]

U.S. steel production up 3.1 percent so far this year


Nationally, as tariffs make imports more expensive, U.S. steel output is up by 3.1 percent so far this year, according to the American Iron and Steel Institute.

https://www.nwitimes.com/business/st...603b05e03.html

U.S. Steel plans massive investment in Gary plant

The company will spend $750 million to upgrade its largest manufacturing facility with “state-of-the-art production equipment, machinery and modernizing technology."

https://www.chicagobusiness.com/manu...ent-gary-plant

When an industry has been decimated it takes time to go back online. Give it time.

[Zippyjuan]

https://www.nwitimes.com/business/st...603b05e03.html



https://www.chicagobusiness.com/manu...ent-gary-plant

When an industry has been decimated it takes time to go back online. Give it time.

Tariffs are subsidizing one industry at the expense of other industries. US steel prices are now the highest in the world and that hurts companies which use steel to produce their goods and services in this country.

[phill4paul]

I see what you did there.

Ford isn't even close to the only company complaining about tariff impact. Polaris CEO was vocal about it today and wants an exemption. Even Harley-Davidson is moving some production to China to get the lower steel prices and laying off workers here. Seems they think it will be cheaper to ship bikes back across the ocean than pay domestic steel prices, while more directly supplying the burgeoning Chinese consumer market and the EU market. Gee, I wonder why Shillsmyth never posts those threads?

Sure. They love to complain while other companies, American steel companies, die. And you love cheap $#@!. That's all that matters. Not the fact that U.S. manufacturing has tanked and more and more citizens suck your tax dollars because they can't find gainful employment. 3 of the nine U.S. steel corps are owned by foreign companies. $#@! Hardly-Davidson. They are bitching because other bike companies are outbuilding them in the changing demographics. Period. Same as Fords bitching.

[Swordsmyth]

I see what you did there.

Ford isn't even close to the only company complaining about tariff impact. Polaris CEO was vocal about it today and wants an exemption. Even Harley-Davidson is moving some production to China to get the lower steel prices and laying off workers here. Seems they think it will be cheaper to ship bikes back across the ocean than pay domestic steel prices, while more directly supplying the burgeoning Chinese consumer market and the EU market. Gee, I wonder why Shillsmyth never posts those threads?

China Pressures Wall Street To Intervene In Trade Fight

[Zippyjuan]

With the industry becoming more and more automated, there may not be any significant increases in steel workers despite the tariffs. Meanwhile higher steel prices may force industries using steel to lay off workers or move their business overseas.

[Swordsmyth]

He loves tariffs and the disruptions they cause.

I love defensive tariffs and the disruptions they stop.

The status quo was in no way free or fair trade and it was hollowing out our economy and our national security.

[Swordsmyth]

With the industry becoming more and more automated, there may not be any significant increases in steel workers. Meanwhile higher steel prices may force industries using steel to lay off workers or move their business overseas.

There are already jobs being added and even if that didn't happen we wouldn't be dependent on hostile foreigners for our needs.

The prices won't stay high very long either.

[devil21]

https://www.nwitimes.com/business/st...603b05e03.html



https://www.chicagobusiness.com/manu...ent-gary-plant

When an industry has been decimated it takes time to go back online. Give it time.

There have been other threads about the plant upgrades. The new tech planned for the upgraded steel plants will cause layoffs. Lower prices should accompany that but that remains to be seen. Layoffs are guaranteed however since the new tech is electricity-based, instead of coal, which allows for much more automation.

[Zippyjuan]

There are already jobs being added and even if that didn't happen we wouldn't be dependent on hostile foreigners for our needs.

The prices won't stay high very long either.

Enemies like Canada- our #1 source. Only 2.9% of our imports come from China.

The prices won't stay high very long either.

The "New NAFTA" -sorry, USMC Agreement- leaves the tariffs in place.

[phill4paul]

Tariffs are subsidizing one industry at the expense of other industries. US steel prices are now the highest in the world and that hurts companies which use steel to produce their goods and services in this country.

Allowing foreign imports subsidized by their governments, through trade deals geared to globalist corporations, undercuts our manufacturing base and is a subsidy of it's own sort. U.S. steel will ramp up to meet demand. It will employ more people and pay them better taking them off the welfare system. Which is just another subsidy for globalists corporations that do not recognize that while one can compete globally it cannot be done at the expense of the workers of the parent state. Your continued support of a globalist/libertarian "lowest cost benefits all" just doesn't work. Because there are costs. It's called welfare. And THAT is the subsidy paid for not allowing U.S. workers and corporations the ability through fair trade deals to compete on a global market.

[Swordsmyth]

Sure. They love to complain while other companies, American steel companies, die. And you love cheap $#@!. That's all that matters. Not the fact that U.S. manufacturing has tanked and more and more citizens suck your tax dollars because they can't find gainful employment. 3 of the nine U.S. steel corps are owned by foreign companies. $#@! Hardly-Davidson. They are bitching because other bike companies are outbuilding them in the changing demographics. Period. Same as Fords bitching.

You must understand that the sinophiles believe that foreign government intervention is good.
They are closet socialists as long as the socialism takes place elsewhere and benefits them personally.
Their sense of morality and their understanding of economics and politics/geopolitcs are completely overwhelmed by the scent of cheap stolen goods.

[Zippyjuan]

Allowing foreign imports subsidized by their governments, through trade deals geared to globalist corporations, undercuts our manufacturing base and is a subsidy of it's own sort. U.S. steel will ramp up to meet demand. It will employ more people and pay them better taking them off the welfare system. Which is just another subsidy for globalists corporations that do not recognize that while one can compete globally it cannot be done at the expense of the workers of the parent state. Your continued support of a globalist/libertarian "lowest cost benefits all" just doesn't work. Because there are costs. It's called welfare. And THAT is the subsidy paid for not allowing U.S. workers and corporations the ability through fair trade deals to compete on a global market.

Tariffs are corporate welfare. They take money from consumers and steel using industries and gives it to steel producers. Yes, there are costs.

[Swordsmyth]

Enemies like Canada- our #1 source. Only 2.9% of our imports come from China.

Yes, enemies like Canada.

Canada Installs Underwater Chinese Monitoring Devices Near US Sub Base

The "New NAFTA" -sorry, USMC Agreement- leaves the tariffs in place.

That isn't what will bring prices down, a regrowth of the US steel industry will bring them down.

[phill4paul]

Only 2.9% of our imports come from China.

What is that trade deficit?

[devil21]

You must understand that the sinophiles believe that foreign government intervention is good.
They are closet socialists as long as the socialism takes place elsewhere and benefits them personally.
Their sense of morality and their understanding of economics and politics/geopolitcs are completely overwhelmed by the scent of cheap stolen goods.

Actually, it's really about the global FRN standard dying but it's easy to get caught up in talking about the symptoms instead of talking about the illness.

[Swordsmyth]

Tariffs are corporate welfare. They take money from consumers and steel using industries and gives it to steel producers. Yes, there are costs.

Defensive tariffs are not welfare, they restore the balance that was undermined by foreign trade war attacks.

[Swordsmyth]

Actually, it's really about the global FRN standard dying but it's easy to get caught up in talking about the symptoms instead of talking about the illness.

Sure.

[devil21]

Defensive tariffs are not welfare, they restore the balance that was undermined by foreign trade war attacks.

Like I said, the imbalance was caused by the monetary system but no one ever wants to talk about that. It was Kissinger and then Nixon that opened up Chinese trade that led to the trade deficit and it was done because the globalist bankers (many of which surround Trump now) needed a new way to export inflation and keep prices down for the American consumer as wages stagnated.

[Swordsmyth]

Like I said, the imbalance was caused by the monetary system but no one ever wants to talk about that. It was Kissinger and then Nixon that opened up Chinese trade that led to the trade deficit and it was done because the globalist bankers (many of which surround Trump now) needed a new way to export inflation and keep prices down for the American consumer as wages stagnated.

And you want to keep following their evil plan.

[devil21]

And you want to keep following their evil plan.

I just point out the facts as I understand them. If you're drawing inferences about my opinions from my posts that is your own doing.