Ford CEO Jim Farley has asked about President Donald Trump’s tariff threats on imports from Mexico, Canada and China. Why does it stop there?
Farley said during a conference call Wednesday that Trump’s selective approach was “meaningless.”
“Why are we having this conversation while Hyundai Kia imports 600,000 units into the US without progressive tariffs? And why Toyota has made it to the US without progressive tariffs Can we import 500,000 vehicles?” Farley asked. “If it lasts for a month, or if it lasts for years, it’s better to be comprehensive for the industry. This is a jackpot for import competitors, so it’s a place to be You can’t choose.”
In a statement, Ford spokesman Ian Thibodeau said Farley “is not asking for more tariffs.”
“He explained that what’s on the table now would only negatively affect several global automakers importing parts and vehicles from North America,” Thibodeau said. “That would allow companies in Korea, Japan and Germany to continue to import vehicles into the US without similar penalties.”
Farley’s more protectionist thinking comes at a difficult time for Ford.
The company announced Wednesday it lost more than $5 billion in its EV program in 2024. The F-150 Lightning, an electric pickup truck, was removed by CyberTruck last year. The company is developing low-cost EV platforms that can power many vehicles, but it’s still a few years away. And the company beat Wall Street expectations for 2024, but it predicted a more coarser year.
In the meantime, Ford will expand to offering “expanded range” hybrid powertrains (e.g. electric vehicles with gas generators) to beat buyers who don’t want to all-in battery power. I’ve confirmed that I’m considering it.
But first, it must navigate the chaos created by the Trump administration.
Farley warned that the proposed 25% tariff on imports from Mexico and Canada would “sweep away” industry profits “billions of dollars” and “damaged US jobs” in the automotive sector. , warned that it would mean something. Customer “higher prices.”
If these tariffs are in place and maintained – big “what if” given Trump has already punted the deadline for implementing it in a month – Farley said, “the devastating impacts Give it.”
Still, Farley said he believes the administration is “working to strengthen our country’s automotive industry, not weaken it.”
“They understand and appreciate how important our industry is to employment, the economy, national security and to our country’s community,” Farley said.
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