Ford says Trump tariffs to cost it $2bn this year

The giant of the automotive industry Ford says that it expects the prices to cost him about $ 2 billion (1.5 billion pounds sterling) this year, which is more anticipated, despite the construction of most of his cars in America.

The company claims that it had already paid an additional $ 800 million in rights in the three months ending in June. He has also undergone losses related to the reduction of an electric vehicle program.

This is the latest indication of the impact of US President Donald Trump’s prices on large American companies and future challenges while he seeks to reshape global supply chains.

But Ford notes a less pronounced price impact than some of its competitors than manufacturing is in the United States.

Ford finance manager Sherry House said the company had increased its forecasts for the cost of prices on its activities because the levies from Mexico and Canada, where he has installations, have remained higher than expected.

She also highlighted the American rates on imported aluminum and steel.

Last week, the automaker Rival General Motors said that the prices had already cost him more than $ 1 billion, while Volkswagen put his move to $ 1.5 billion.

Jim Farley, CEO of Ford, said that the company was in regular contact with the White House while the company is trying to obtain lower prices, especially on vehicle parts.

“We see that there are many advantages depending on how negotiations go with the administration,” he said.

Trump has increased his functions on most goods, with special prices targeting cars and car parts, as well as the key materials used to make them.

He said the measures aim to convince companies, in the United States and abroad, to manufacture their products in America.

On Wednesday, Ford de Ford’s shares dropped approximately 1.5% in prolonged trade in New York after the results were announced.