WASHINGTON, July 31 (Reuters) - U.S. Treasury Secretary
Scott Bessent on Thursday downplayed Ford Motor's ( F ) $800
million hit from tariffs, attributing those results to the
company's use of aluminum instead of steel for its big trucks.
The United States will be negotiating with Canada on the
metals tariffs, Bessent said in an interview with CNBC.
President Donald Trump this summer ratcheted up import tariffs
on aluminum.
"I think that there are were numerous circumstances with
Ford," Bessent said.
"I believe that the Ford F-150, 250 - their big truck series
- is made out of aluminum instead of steel, which is different
than other cars. So I think maybe the aluminum tariffs hit them
harder. We will be negotiating with Canada on those.
"So I think with Ford, it's probably been idiosyncratic."