US Carmakers Hit by Tariffs Disputes

(From BBC News)

Three major automakers have warned that changes to trade policies are hurting performance.

Ford and General Motors lowered profit forecasts for 2018, citing higher steel and aluminium prices caused by new US tariffs.

Fiat Chrysler also slashed its 2018 revenue outlook, after sales in China slumped as buyers postponed purchases in anticipation of lower car tariffs.

Shares in all three companies fell after they reported results.

General Motors shares ended the day about 5% lower, while Fiat Chrysler shares sank about 11%.

Shares in Ford, which reported its earnings to investors results later in the day, dropped about 4% in after hours trade.

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