Ford CEO says steel, aluminum tariffs will cost company $1B

DETROIT (AP) — Ford CEO Jim Hackett says the Trump administration’s tariffs on imported steel and aluminum will cost the company $1 billion.
Ford says the figure is a year-over-year increase from March through 2019.
Hackett told Bloomberg television that Ford gets most of its metals from U.S. producers, which raised prices due to the tariffs this year.
IHS Markit Senior Analyst Peter Nagle says other automakers will see the same cost increases. Eventually they’ll have to raise