Ford Motor Is Losing $1 Billion Due To Trump's Trade Tariffs, They Are Planning Massive Layoffs

in #politics5 years ago

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

More info in the article
https://finance.yahoo.com/news/ford-prepares-mass-layoffs-losing-002618564.html

My thoughts on this news

Are Americans tired of winning yet? As I have said in my previous posts, tariffs have no benefit for people, they increase prices for all consumers. When a government creates a tariff a corporation will simply increases prices so the consumer will pay those tariffs that the government is charging the corporation. Since the Ford corporation is now paying higher prices for material it needs to build cars, instead of increasing car prices, they will be laying off American workers instead, which is even worse. The profit margin on cars is already pretty low so they know if they increase prices too much nobody will buy them, so instead they will simply reduce their costs by getting rid of workers and reducing production. This is only the beginning, just wait until these tariffs start impacting more corporations, Trump is a dumb ass who is going to destroy this already self destructing economy.

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