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US Treasury Secretary Bessent downplays Ford results
Jul 31, 2025 6:03 AM

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."

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