US Treasury Secretary Bessent downplays Ford results

WASHINGTON, July 31 (Reuters) - U.S. Treasury Secretary Scott Bessent on Thursday downplayed Ford Motor's F.N $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."