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Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video:

Ford previews updated Police Interceptor Utility for Chicago debut

With more law enforcement agencies across the United States alone than we'd care to count (or ever encounter), selling police cars means big business for American automakers, with Ford, Chevy and Dodge competing to fill the motorpools of every police department, sheriff's office and government agency in the land. For its part, Ford offers the Taurus-based Police Interceptor sedan and the Explorer-based Police Interceptor Utility, and it's preparing to unveil a revised version of the latter at the upcoming Chicago Auto Show in the same city where it's built. Dearborn hasn't given us much to go on with this teaser, showing just a darkened front shot of the vehicle in question with its emergency lighting all aglow. But it's fairly clear that the Interceptor Utility has been given many of the same updates applied recently to the Explorer on which it's based. That starts with the revised sheet metal, but considering that the Interceptor Utility exclusively packs V6 power, the 2.3-liter EcoBoost four that was one of the biggest updates to the civilian Explorer isn't likely to carry over. Ford does, however, promise that the revised Police Interceptor Utility will be "even better" than the model it replaces" and pack "more high-tech features." Related Video:

Recharge Wrap-up: Custom Nissan Leaf video, Shell's Arctic oil plans

A video shows a customized Nissan Leaf. An owner in Japan slapped a pretty spiffy body kit on his EV, along with some Forgiato custom wheels and brakes. There's no telling what effects these modifications have on the car's aerodynamics or driving range, but it definitely gives the leaf a unique and sporty look. Check it out in the video above, and read more at Ecomento. Shell has big plans to drill for oil in the Arctic Ocean. With 13 percent of the world's undiscovered oil resting beneath those frigid waters, the company sees this new frontier as promising, despite the challenges involved in exploiting it. So far, Shell has spent $7 billion on Arctic operations without having extracted any oil yet. Of course, the idea of Arctic drilling has loads of opposition from concerned individual and organizations concerned with the environmental hazards of extracting oil in the icy north. Read in-depth about Shell's plans at Bloomberg. Ford has won the Altair Enlighten Award for its lightweight technology in the F-150. The award program honors automotive innovations in weight reduction. Ford was recognized for shaving 700 pounds off of the F-150 while improving performance and safety. "It's encouraging to see Ford implementing a holistic lightweighting strategy, which resulted in impressive weight savings that were incredibly significant to the judging panel," says Altair's Vice President of Global Automotive, Dave Mason. General Motors was the runner-up, with its weight savings in the Cadillac ATS and CTS. Read more at PitchEngine. The Diesel Technology Forum has outlined environmental improvements in heavy-duty vehicles at a rulemaking hearing in front of the EPA and NHTSA. Between 2010 and 2014, clean diesel technology reduced carbon emissions equal to that of 2.4 coal-fired power plants, and NOx emissions equal to 158 coal plants. New rules would help further improve the environmental performance of diesel engines. "Advances in diesel engine technology will continue to contribute to the overall efficiency gains of vehicles under this proposed rule," says Diesel Technology Forum Executive Director Allen Schaeffer. "As a result we expect diesel technology to remain the primary power-plant for commercial trucks into the foreseeable future." Read more in the press release below. Clean Diesel Power Key Part of Achieving Future Truck Efficiency Gains, EPA Officials Told -- Diesel Technology Forum CHICAGO, Aug.