Ford metal tariffs 'cost company $1 bln

Ford Motor Co Chief Executive Officer James Hackett said on Wednesday that metal tariffs cost the carmaker $1 billion.

Hackett, speaking at the Bloomberg business forum conference in New York City, said the tariffs were very negative to the company since most of the supply came from American suppliers, Reuters reports.

The United States in March said it would impose a 25 percent tariff on imported steel and 10 percent tariff on imported aluminum.