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Recent Tariffs Take Cash From Ford Workers

Recent Tariffs Take Cash From Ford Workers

Upcoming tariffs on steel and aluminum are projected to impact profits for Ford Motor Co. by up to $1 billion by the end of next year. This signifies another casualty in the current administration's trade war whose effects are being felt globally. 

Ford's bonus structure has become known industry-wide for generosity toward its workers. For every $1 million in profits the company makes, they give one dollar back to their workers in the form of a yearly bonus. Last year the average bonus for a US worker was about $7,500. With in instant loss of $1 billion in revenue for next year, though, it's estimated that the same workers checks will be between $1,000 and $1,500 less. 

This has come as a real slap in the face to Ford's workers, as a majority of them supported the Trump in the last election primarily on his word that he'll increase prosperity in their industry. Many workers rely on these bonus checks to support their families and base yearly budgets on corporate projections. Lean times may be in store for these families. 

Unfortunately they're learning that this may not be the only negative effect of the tariffs as well.

Ford has recently stated that they will not be importing any sedan class models after this year.

With the heavy tariffs the administration has put on these as well, it simply isn't profitable for them.

How this will affect the 2020 presidential election remains to be seen, but traditionally interrupting a person's flow of income doesn't tend to engender positive feelings toward a candidate.

Our partners at All Foreign And Domestic Body Shop North Stockton here in Stockton, CA strive to provide you with informative and entertaining content.

Written By: Todd Hendrickson
Source: autonews.com

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