tariffs

Ford Motor Company emblem
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Ford CEO Jim Hackett says the Trump administration's tariffs on imported steel and aluminum will cost the company $1 billion.

Ford says the figure is a year-over-year increase from March through 2019.

Hackett told Bloomberg television that Ford gets most of its metals from U.S. producers, which raised prices due to the tariffs this year.

IHS Markit Senior Analyst Peter Nagle says other automakers will see the same cost increases. Eventually they'll have to raise prices of cars and trucks or reduce discounts to cover the added costs.

Mark Sanchez
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A retailer group is forming a private health insurance exchange while the state's small group insurance market is seeing stability.

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University
gvsu.edu

West Michigan’s economic growth slowed in almost every sector in July. That’s the readout from the latest Supply Management Research survey. The findings indicate it’s in response to sweeping tariffs.

“Our index of new orders which had been very positive flipped to the negative position for the first time in 18 months.”

Brian G. Long is director of Supply Management Research at the Seidman College of Business at Grand Valley State University.

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University
gvsu.edu

“Solid growth” is the term best used to describe West Michigan’s economy for the month of June. Some of the lowest unemployment in the state can be found in the region. But heading into July the folks at Supply Management Research will be keeping a close watch on a growing tariff war and how it may be impacting local industries.

Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State UniversityCredit gvsu.eduEdit | Remove

The G7 Summit has wrapped up and there’s talk of a tariff war. How is this impacting the West Michigan economy?

The Institute for Supply Management survey for the month of May indicates the pace of the local economy has picked up despite the uncertainty.

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Earlier this month, Grand Valley State University's Van Andel Global Trade Center hosted its 19th West Michigan Automotive Suppliers Symposium.

Mike Wall, director of automotive analysis for IHS Markit, presented during the annual event. He spoke with WGVU about the future of autonomous vehicles and mobility along with NAFTA renegotiations and the potential impacts of steel and aluminum tariffs. But first, the automotive industry forecast.

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President Donald Trump says "we're not backing down" on his push to impose tariffs on imported steel and aluminum despite criticism from fellow Republicans. WGVU’s Patrick Center spoke with an economics professor about those tariffs - and the potential for a trade war – and what its impact could have on Michigan consumers and industry.

“Here in Michigan we make cars. We’re good a t making cars. We make a lot of them.”

Dr. Paul Isely is currently the Associate Dean for Undergraduate Programs in the Seidman College of Business at Grand Valley State University.

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President Donald Trump is looking for advice from a range of lawmakers as he considers whether to impose trade sanctions on aluminum and steel imports.

The president is meeting at the White House with nearly 20 lawmakers, including a number of senators representing Rust Belt states like Pennsylvania, Ohio and Michigan.

Trump says the administration is "considering all options" but he's considering issuing "tariffs and/or quotas."

Donald Trump used a visit to west Michigan to take aim at Ford Motor Company’s plans to expand production in Mexico. He says, if elected President, he would threaten manufacturers with big tariffs on imports to discourage them from building plants across the border and overseas.

“If you build that plant in Mexico, I’m going to charge you 35 percent on every car, truck part that you send into our country,” he said. “Every single one.”