The tariffs the Trump Administration has imposed in 2018 have been met with plenty of criticism, along with a few approvals. Recent news from Ford has really brought the decisions—specifically, tariffs on steel and aluminum—into sharper focus.
Ford announced that, after attributing $1 billion in lost profits to President Trump’s tariffs, it will institute “massive layoffs”—up to 24,000 jobs, according to one report. The automaker’s woes are not unique to the industry—other manufacturing sectors have also struggled with the effects of the new duties imposed on goods from other nations, including Canada, China, Mexico, and the European Union.
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