Procter & Gamble

Ford CEO says tariffs cost it $1 billion as companies warn price hikes likely

Ford CEO says tariffs cost it $1 billion as companies warn price hikes likely

From Ford to Walmart to Procter & Gamble, a growing number of iconic American companies are warning that President Donald Trump's tariffs on U.S. imports are raising their costs and prices.

Jim Hackett, CEO of Ford, the second-largest U.S.-based automaker, said Wednesday that Trump's taxes on imported steel and aluminum are costing Ford $1 billion and threatening to ignite price increases across the auto industry.

Likewise, Walmart, America's largest retailer, has told the administration that Trump's latest round of taxes — on $200 billion of Chinese imports — could increase prices for its shoppers. Walmart specifically mentioned items ranging from car seats, cribs and...

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