Trump’s tariffs have already cost Ford $1B; now it’s planning layoffs

Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a “redesign” of its staff to be leaner, have fewer layers, and offer more decision-making power to employees, the company…

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Fed Monitoring Tariffs but Suggests Rate Increases Are on Track

Federal Reserve officials are poised to continue gradually raising interest rates but are monitoring for signs of widespread economic fallout from President Trump’s trade policies, according to minutes from the most recent Fed meeting released on Wednesday. The Fed minutes suggest that officials are concerned that Mr. Trump’s tariffs could hurt the current economic recovery…

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Chinese tariffs on US gas exports may shift the global market

“A 25 percent import tariff, amid a backdrop of strong government rhetoric against U.S. energy imports, is likely to see U.S. LNG priced out of the lucrative Chinese gas market,” said analysts at Fitch Solutions Macro Research. Brennan echoed that sentiment, writing in his note that “geopolitical dynamics will undermine American exporters’ bid to become…

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Tariffs cause GM, FCA to trim 2018 profit forecasts, stocks hit

DETROIT (Reuters) – Tariffs were partly to blame for lowered full-year forecasts by General Motors Co (GM.N) and Fiat Chrysler Automobiles NV (FCA) (FCHA.MI)(FCAU.N), pummeling the stocks of both automakers on Wednesday as investors feared escalating trade disputes would hurt margins and sales. GM cited higher steel and aluminum costs for its 2018 profit forecast…

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