Trump’s trade war is starting to whack car companies like Ford, Honda, and BMW – AOL Finance

Donald Trump’s tariffs, and the car companies say the worst may be yet to come.Large automakers including Ford, Honda, and BMW say they are all reeling from the effects of the tit-for-tat tariffs between the US and China, as well as Trump’s tariffs on all steel and aluminum tariffs coming into the US.The latest example came from Ford, which announced last week that it would be forced to lay off employees as it cuts costs. Some of the impetus for the layoffs is a restructuring program the company is undertaking, but recent sales woes in China and increased material costs are also driving some of the automaker’s pain.

Source: Trump’s trade war is starting to whack car companies like Ford, Honda, and BMW – AOL Finance

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