Already the trade war is claiming US casualties. Ford Motor Corp., whose CEO Jim Hackett said last week that Trump’s tariffs on imported metals have cost the company $1 billion, is reportedly preparing to layoff tens of thousands of US workers. In an interview with Fortune ‘s Susie Gharib, United Technologies CEO Gregory Hayes had some blunt words of advice for Trump on the subject of tariffs. “Mr. President, these are a bad idea,” he said. “Tit-for-tat trade wars, nobody wins.” Fortune CEO DailyCan't speak for Hackett, but Hayes had been known for showering praise on the Administration up until the latest. So, no -- in UT's and, clearly, based on the effects, Ford's case as well (not to mention in absolutely yours truly's) -- there's no politics, just business/economics, in their stance.
Saturday, October 13, 2018
Quote of the Day: A Billion Bucks and Tens of Thousand of Jobs (just one company)
While not all clients and regular readers totally agree with me on the tariff topic, they do know exactly where I stand. Which is with Ford's Jim Hackett and United Technology's Gregory Harris:
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