Latest news with #Kentucky-made
TimesLIVE
21-04-2025
- Automotive
- TimesLIVE
Ford halts shipments of vehicles to China amid tariffs
Ford said on Friday it has halted shipments of its SUVs, pickup trucks and sports cars to China, as it starts to face the heat from retaliatory tariffs that have seen vehicles face taxes as high as 150%. 'We have adjusted exports from the US to China in light of the current tariffs,' Ford said in a statement. The company this week halted shipments of its F-150 Raptors, Mustangs and Michigan-built Bronco SUVs as well as Kentucky-made Lincoln Navigators to China. The development comes as US carmakers scramble to find ways to tackle President Donald Trump's on-again, off-again tariffs, which are expected to dent profits of carmakers and parts suppliers likewise. The Wall Street Journal was first to report on the halt, citing people familiar with the matter. Ford's exports of US-built engines and transmissions to China are expected to continue despite the pause on exports of assembled vehicles. Its Lincoln Nautilus model, which is manufactured in China, is also expected to have continued shipments, despite heavy tariffs. Ford is among the best-placed carmakers to weather tariffs, as it produces about 80% of its US-sold vehicles domestically. Still, the carmaker is expected to raise prices of its new vehicles if tariffs continue, according to an internal memo sent to dealers that was seen by Reuters. An analysis by the Center for Automotive Research published earlier this month said Trump's 25% tariffs on automotive imports will escalate costs for carmakers by about $108bn (R2.03-trillion) in 2025. Trump earlier this week floated the idea that he was considering a modification to the car-related tariffs, indicating he might allow exemptions on existing levies.
Yahoo
19-04-2025
- Automotive
- Yahoo
Ford halts shipments of F-150s and other models to China: Report
(NewsNation) — Ford Motor has halted shipments of SUVs, pick-up trucks and sports cars to China due to retaliatory tariffs from President Trump's trade war. This week, the company stopped shipping F-150 Raptors, Mustang muscle cars, Michigan-built Bronco SUVs and Kentucky-made Lincoln Navigators to China, The Wall Street Journal reported Friday, citing people familiar with the matter. China's retaliatory measures in response to U.S. import taxes have raised duties on those vehicles as high as 150%, WSJ said. How does the automotive supply chain work? 'We have adjusted exports from the U.S. to China in light of the current tariffs,' a Ford spokesperson confirmed in an email to NewsNation, but it did not say which models were affected. Last year, Ford reportedly shipped about 5,500 Broncos, F-150s, Mustangs and Navigators to China. However, that's well below the annual average of more than 20,000 vehicle exports to China over the past decade, WSJ noted. Is there a car loan bubble? Here's what to know Ford's decision is one of the first tangible signs of a U.S. automaker adjusting its operations in the wake of Trump's trade war — a battle that's expected to raise costs for manufacturers and car shoppers alike. A recent analysis by the Center for Automotive Research found that Trump's 25% tariffs on auto imports will escalate costs for all U.S. automakers by about $108 billion in 2025. Automakers are also navigating tariffs on steel and aluminum imports of at least 25%. Earlier this week, Trump hinted that he might relieve the auto industry from 'permanent' tariffs but offered few details. The president insists his trade war will bring manufacturing jobs back to the U.S., but experts fear the economic uncertainty will deter companies from making long-term investments. Ford also exports U.S.-built engines and transmissions to China, and those shipments have continued, WSJ said. The company is better positioned than most to weather the tariff storm, as it produces about 80% of its U.S.-sold vehicles domestically, according to Reuters. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
18-04-2025
- Automotive
- Yahoo
Ford halts shipments of vehicles to China amid tariffs, WSJ reports
(Reuters) -Ford Motor has halted shipments of its SUVs, pick-up trucks and sports cars to China in the wake of President Donald Trump's tariffs, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company this week halted shipments of its F-150 Raptors, Mustangs and Michigan-built Bronco SUVs as well as Kentucky-made Lincoln Navigators to China, the report said. China's retaliatory tariffs in response to U.S. import taxes have seen these vehicles face a tariff as high as 150%. Sign in to access your portfolio
Yahoo
03-04-2025
- Automotive
- Yahoo
In response to Trump tariffs, Ford to offer employee vehicle pricing to consumers
In response to the frenzy of tariffs coming down from President Donald Trump, one of America's most iconic brands is taking action to help consumers. Ford Motor Co. is launching a "From America, For America" campaign that allows consumers to take advantage of employee pricing. This U.S. initiative will run from April 3 to June 2 at dealerships across the country. "We understand that these are uncertain times for many Americans. Whether it's navigating the complexities of a changing economy or simply needing a reliable vehicle for your family, we want to help. We have the retail inventory to do this and a lot of choice for customers that need a vehicle," a statement from Ford said. Consumers will be able to purchase 2024 and 2025 gas, hybrid, plug-in hybrid, and diesel Ford and Lincoln vehicles at the employee pricing level. This promotion excludes Ford Raptor, and the Kentucky-made 2025 Ford Expedition, Lincoln Navigator and Super Duty trucks. For those looking to purchase an electric vehicle, Ford is also running a promotion that allows consumers to receive a complimentary home charger and standard installation through June 30. On Wednesday, Trump issued yet another sweeping round of tariffs, instituting a global 10% baseline tariff as well as levying a 25% tariff on foreign automobiles. Additional tariffs on foreign automobile parts are anticipated to come in a few weeks. More: Here's how Trump's 'half-baked tariffs' could impact the Kentucky bourbon industry Experts anticipate the tariffs will raise the price of vehicles across the board, and many automakers are still trying to understand the full impact the trade policy could have on their companies. In a March 27 memo to employees, Ford CEO Jim Farley said the company is still studying impacts on the Dearborn-based automaker from the tariffs. Farley's memo which was obtained by the Detroit Free Press stated, "While Ford supports the president's vision of building a stronger auto industry and manufacturing base in the United States, the situation is dynamic and the impacts of the tariffs are likely to be significant across our industry ― affecting automakers, suppliers, dealers and customers." Contact business reporter Olivia Evans at oevans@ or on X, formerly known as Twitter, at @oliviamevans_. This article originally appeared on Louisville Courier Journal: Ford employee vehicle pricing extended to consumers Trump tariff Sign in to access your portfolio
Yahoo
15-02-2025
- Business
- Yahoo
How many Daviess Countians are on Medicaid?
When the folks in Washington talk about cutting Medicaid, how many people are we talking about in Daviess County? According to the Cabinet for Health and Family Services, 31,426 Daviess Countians are on Medicaid this month — up from 31,379 last month. • It looks like the old Bowen Tire building at 2600 Frederica St. may be about to be demolished. So, what's happening. According to the Owensboro Metropolitan Planning Commission, 'All we have received is a buyer for the Bowen Tire lot is wanting to convert it into a restaurant of some sort. No plans have been submitted as of yet.' • Holiday World & Splashin' Safari in Santa Claus, Indiana, is hiring more than 2,000 people for the summer. Applications are now open on the Holiday World website — An in-person job fair will be on March 8 and phone interviews will be Feb. 22 and March 15. Holiday World will also host hiring events in Owensboro on March 1. Starting pay is $13 an hour. • ZipRecruiter says the average pay in Owensboro is $25 an hour or $51,684 a year. • WalletHub analyzed the prices of 26 common grocery items in each of the 50 states, 'then compared the prices to the median household income in order to determine which consumers are spending the greatest percentage of their income on groceries.' Kentucky was fourth-highest with 2.41%. Mississippi was first with 2.64%. • Kentucky's general fund receipts were up 4.9% in January and 2.2% for the fiscal year so far. And road fund receipts increased 8.2% for the month and 1.2% for the fiscal year. • The state said this week that Kentucky once again set 'an all-time record for products shipped globally, with $47.7 billion in exports in 2024. The commonwealth broke the record set in 2023 with an 18.7% increase over the previous year.' Canada is Kentucky's top export destination, with over $9.3 billion in products. The United Kingdom (more than $4.9 billion), France (over $4.7 billion), China (more than $4.3 billion) and Mexico (over $4.1 billion) remain in the top five destinations for Kentucky-made products. • Aldi says it plans to open more than 225 new stores in 2025 as part of its five-year growth plan. The company previously announced plans to reach 800 new stores by 2028. Last year, it opened nearly 120 locations, bringing its total store count to more than 2,400. • Chicken Salad Chick says it opened nearly 40 new locations last year, giving it a total of 288 restaurants in 20 states. • U.S. Sens. Mitch McConnell, R-Ky., and Mark Warner, D-Va., have introduced the White Oak Resilience Act to use more federal resources protect the tree. Kentucky bourbon is aged in white oak barrels.
