TRUMP TARIFF BACKFIRES: While the vast majority of steel and aluminum aluminium that Ford Motor Company uses for US production is made domestically, it has said the tariffs could result in higher domestic commodity prices. Picture: BLOOMBERG/QILAI SHEN
TRUMP TARIFF BACKFIRES: While the vast majority of steel and aluminum aluminium that Ford Motor Company uses for US production is made domestically, it has said the tariffs could result in higher domestic commodity prices. Picture: BLOOMBERG/QILAI SHEN

Steel and aluminium tariffs imposed by the Trump administration have cost Ford Motor Company about $1bn in profits, its CEO said this week. Honda Motor Company said higher steel prices have brought "hundreds of millions of dollars" in new costs. "We source most of that in the US anyway. If it goes on any longer, it will do more damage." Ford CEO James Hackett said at a Bloomberg conference.

France doesn’t plan to sell stake in Air France-KLM

France has no plans to sell its stake in Air France-KLM and the priority is to increase the competitiveness of the group’s French unit, finance minister Bruno Le Maire said on Thursday. He was responding to comments made by Air France-KLM’s new CEO, Benjamin Smith, who told the Financial Times the state was prepared to sell its 14% stake. "That is not one of the options," Le Maire told franceinfo radio.

Reuters

Please sign in or register to comment.