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Ford (F) Agrees to Pay $365M to Settle Tariff Act Breach
Ford MotorFord Motor(US:F) Zacks Investment Research·2024-03-12 22:01

Ford Motor Company (F) has agreed to pay $365 million to resolve the claim that it breached the Tariff Act of 1930. Per the U.S. Justice Department, the automaker deliberately misclassified and understated the value of hundreds of thousands of imported Transit Connect vehicles to evade higher tariff payments.Ford contested the Justice Department's longstanding claim and released a statement in which it admitted no liability but agreed to settle this intricate and decade-long dispute.Per the allegations made ...