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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:

Lincoln Star Concept provides a glimpse of four upcoming EVs

The auto industry is in the midst of what has been called a once-in-a-century transformation as it shifts to zero-emissions propulsion. As it happens, this year also marks Lincoln’s 100th anniversary. There were actually Lincolns a few years earlier, but Lincoln counts Feb. 4, 1922, when Henry Ford purchased the company, as its birthday. Like many, Lincoln wants to electrify its lineup, and plans to introduce four new battery-electric vehicles by 2026. Today it unveiled the car that will inform that future, the Lincoln Star Concept. “ItÂ’s a clean-sheet of paper to help us get through the next four products,” chief exterior designer Earl Lucas told Autoblog at a preview. But when asked whether it's a crossover, LincolnÂ’s representatives resist dropping it into any existing categories. Global Design Director Kemal Curic describes it as a “new species.” It lacks the upright, two-box design of crossovers and SUVs dotting AmericaÂ’s roads. Instead it has a dramatically raked A-pillar and an even more acutely angled rear. The greenhouse area tapers towards the rear, and the main body has a distinct anti-wedge silhouette. To these eyes, it has almost wagon-like proportions. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The other hallmark of the Star is its use of lighting. Illuminated surfaces can be found throughout the car — on logos where badges would normally reside, on a thin band that outlines the roof, and on fingernails that trace the wheel arches. ThereÂ’s also an unmissable light bar that spans the leading edge of the nose before curving up over the fenders and to the A pillars. ItÂ’s reminiscent of the chrome strips on the blade-like fenders of the 1961 Continental, but the designers we talked to denied that resemblance. The Star is decidedly anti-chrome, and lighting takes the place of that brightwork. Throughout our walkaround, designers used phrases that evoked a jet age view of transit. “ItÂ’s the journey, not the destination,” said Lucas. Curic uses the term “in flight” when talking about driving modes. Chief interior designer Robert Gelardi called it “the romance of travel.” ItÂ’s as if the Star was channeling a time when Lincolns like the Continental Mark II, once the most expensive domestic car ever sold, bore the American standard around the world and went toe-to-toe against the likes of Rolls-Royce.

Ford recalls 422,000 SUVs for rear view camera display that may fail

WASHINGTON — Ford is recalling 422,000 sport utility vehicles in the U.S. because the video output may fail, preventing the rear view camera image from displaying. The recall covers 2020 through 2023 Ford Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair SUVs with a 360-degree camera. The recall expands and replaces prior Ford callbacks for the same issue in 2021 and 2023. Ford last year updated the image processing module (IPMB) software in an effort to address the issue. Ford said on Thursday it is "working together with suppliers to identify root cause and provide the correct remedy as quickly as possible". The National Highway Traffic Safety Administration (NHTSA) said the loss of the rear view camera image can reduce the driver's rear visibility, increasing the risk of a crash. Owner notification letters are expected to be mailed on June 26. Last year, Ford said it had reports of 17 minor crashes relating to the recall issue and more than 2,100 warranty reports but no reports of injuries. The NHTSA in August 2021 opened an investigation after Ford in 2020 recalled 620,246 vehicles for another rear camera issue. The investigation is reviewing if Ford had recalled the vehicles in a timely fashion and if it recalled enough vehicles. Recalls Ford Lincoln Crossover SUV