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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:

2020 Lincoln Corsair spied inside and out, ready to replace the MKC

Last year we were told the Lincoln MKC crossover would be renamed the Lincoln Corsair for the 2020 model year. A full exterior and interior redesign is on its way to go with the name change, one we get to see up close and personal here. We were led to believe that the Corsair would take its design cues from the handsome three-row Aviator SUV. That sentiment rings true for the exterior and interior as we take a look at these first spy shots of the smallest Lincoln crossover. The silhouette of the Corsair is near spot-on that of the Aviator's — it's smaller in every way, but styling elements like the grille, taillights, tapered rear window and overhanging spoiler all scream Aviator. Even the wheels look ripped straight from a lower-spec Aviator. We think that's great, because the Aviator is one hell of a looker now that all the camouflage has been stripped off it. Lincoln is bringing its new interior styling to the small crossover too, it appears. The shots we get to see here show that this won't even come close to resembling its redesigned Escape sibling on the inside. Instead, we're feeling Navigator and Aviator vibes all over. The big screen perched on top, chrome everywhere and classy appearance is reassuring; any concern over seeing a Lincoln version of a Ford on the inside should be wiped away with these photos. This interior looks like it's ready for the showroom floor, too. We're thinking you'll likely be able to buy one before the year is done. A report earlier this week shed some light on possible powertrain options we could see on this crossover related to the Ford Escape. A 2.0-liter Ecoboost engine is likely to be the base option, while the 2.3-liter Ecoboost will remain as an upgrade. The possibility of a plug-in hybrid version looms, though. With the Lincoln Aviator going that route, an electrified option for the smaller crossover could prove appealing for some buyers not wanting to pony up for the big Aviator. A reveal for this crossover should be coming soon at this rate, possibly even at the N.Y. Auto Show in April this year. Related video:

Dan Neil pokes fun at the celeb cars of 2014

Look, we try really hard not to pay any attention to the Kardashians and their vapid reality TV empire. But, as troubling as that brood may be, occasionally we're impressed and/or horrified by their four-wheeled conveyances. In fact, that curiosity extends beyond talentless reality stars with rotund glutes to celebs in general. That's why we're enjoying Dan Neil's sometimes biting take on the celebrity cars of 2014. Besides paying tribute to Kim K, husband Kanye West and the adorable Lamborghini that their spawn rides about in, Neil also takes a look at LeBron James' turn as a Kia spokesman and boxer Floyd Mayweather's trio of Bugatti Veyrons. Matthew McConaughey is a focus of Neil's as well, thanks to his oft-panned advertisements for Lincoln (and the raucous parodies they inspired), before finishing on the high, with Jerry Seinfeld and his new Porsche 918 Spyder. Take a look at Neil's recap of the celebrity cars of 2014. News Source: The Wall Street Journal Celebrities Humor Bugatti Kia Lamborghini Lincoln Porsche Videos porsche 918 spyder celebrity dan neil