Ford publishes the first quarterly loss after two years after hitting the tariff of $ 800 million

Ford’s giant car company recorded its first quarterly loss on Wednesday, after it witnessed 800 billion dollars in customs tariff costs.

Ford recorded 50.2 billion dollars in revenue for the second quarter, an increase of 5 percent over the second quarter of last year.

Derborn, Michigan State, informed a net loss of $ 36 million, resulting from “special fees related to the field service and expenses related to canceling a previously announced electrical program.”

The costs related to the company’s definitions will run about two billion dollars in annual profits.

Ford’s senior officials in contact with the White House to reduce the tariffs on steel and aluminum.

They have made it clear that Ford should not be the most deprived car manufacturer, according to the Wall Street Journal: “We are optimistic.”

President Trump slapped a 25 percent tariff for cars and imported parts in April. Since then, he has amended parts of the car tariff and reached an agreement with the European Union, including a 15 percent tariff for cars.

“We have registered the fourth quarter in a row from improving costs on an annual basis, with the exception of the impact of definitions, and the construction of the progress we made last year when it closed about $ 1.5 billion of the gap in the competitive cost of the cost of materials,” said House.

Ford manufactures most of its vehicles in the United States, as the company raised prices in May in three of its produced models in Mexico due to the effect of the Trump tariff partially.

Ford reported that there were $ 28.4 billion in cash and $ 46.6 billion of liquidity at the end of the quarter.