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Tariffs ding Detroit automakers' profit forecasts, stocks hit

July 26, 2018
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Tariffs ding Detroit automakers' profit forecasts, stocks hitBy Nick Carey and Ben Klayman DETROIT (Reuters) - Detroit automakers General Motors Co , Ford Motor Co and Fiat Chrysler Automobiles NV (FCA) lowered their full-year profit forecasts on Wednesday due to escalating tariffs, hitting their stocks as investors bet that escalating trade disputes would hurt margins and sales. GM cited higher steel and aluminum costs for its 2018 profit forecast reduction as a result of tariffs imposed by U.S. President Donald Trump's administration.




from Yahoo News - Latest News & Headlines https://yhoo.it/2LluWvf
via Yahoo News

26Jul2018

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