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However, a recent report by Morgan Stanley estimates "a global headcount reduction of approximately 12 percent,” or 24,000 of Ford's 202,000 workers worldwide. "Such a magnitude of reduction is not without precedent in the auto industry,” analysts wrote in the investment note.
Ford has already warned that President Donald Trump's auto tariffs have impacted the company to the tune of $1 billion, and the president’s trade policies threaten to play havoc with Ford’s ongoing reorganization, Shanks told NBC News.
Trump and Ford have been squaring off since well before the 2016 election, when then-presidential candidate originally threatened to impose hefty tariffs on vehicles Ford intended to start importing from a factory in Mexico. The carmaker eventually scrubbed that plan, but rather than return production to the U.S. it decided to move it to China.
I saw that Trane was closing its Lexington, KY plant in 2019. I didn't read the article though.
They did. I live in Lexington. The plant in Lexington had been here for about 55 years. It was an old plant, and the company chose to close it and move the jobs to a plant in South Carolina. Trane was the 12th or 13th largest employer in Fayette County.
Ford production belongs back on U.S. soil. Ford shouldn't be blaming current president for greedy businesses leaving to make more money. Ford plants went to Mexico how long ago? Now China?
Its not about Tarrifs. I'm not sure how many plants are still here, but in my opinion they should have never left.
How about this... Greed cost Ford 1B. They chose to sell US workers out in favor of third world hell holes. Now they are paying for their greed in the form of a tariff/tax. Maybe they should relocate all white collar offices in those countries and leave America alone if they are too good to hire US blue collar workers.
I know one thing... My next vehicle will be a GM product. I have done a lot of work for them and they seem to appreciate hard working blue collar American workers more.
Cons/Repubs: capitalism rocks! (except when it comes to Trump's tariffs)
Capitalism does rock, and America has pretty much always had tariffs. Most countries in the world use tariffs to protect their domestic market. Nothing says tariffs can't exist in a capitalist system, only dems who want to rewrite the rules to make America lose again.
So when China steals the intellectual property of US owned businesses, to make cheap Chinese knock-off version, is that theft?
When Trump fights back against this intellectual property theft by Chins, with tariffs, is that theft?
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