18 All-American Companies Hit by Tariffs

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Estimated Cost: $1 billion in 2018

Last year was a rough one for Ford, with its stock plunging 39% in 2018 as the company cut its full-year outlook due to waning sales in China. The automaker is also in the process of developing a restructuring plan that Morgan Stanley analysts estimate will result in 25,000 layoffs. As of June 2019, Ford had already laid off 2,300 American workers and made plans to increase layoffs abroad, CNBC reported.

On top of all that, tariffs on steel and aluminum have hurt Ford because, well, there’s a lot of both those things in cars. CEO Jim Hackett said the tariffs cost the automaker $1 billion in lost profits for 2018, according to a Bloomberg report.

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