John Lonsky, head of the Lunusky Group, breaks Donald Trump's economic agenda when he joined Warren and the Company.
Jim Farley, CEO of Ford, said Tuesday that the President Donald Trump Tariff pressure has so far brought “a lot of money and chaos” to the automotive industry despite the President's goals to help the industry.
“President Trump has talked about the stronger the US automotive industry, and brings more production here, gives the United States more innovation, and if the government can achieve that goal This will be one of the most signed achievements. ” Conference in Detroit.
“So far, what we see is a lot of chaos,” he said.
Farley also said that if 25 % is Trump Tariffs in Mexico and Canada For a long time and running for a long time, it “in the US Automotive Industry” hole “, with the competitors of Asia and Europe that they can benefit from.
Ford expects to install EV losses this year
Ford CEO Jim Farley warned that Mexico and Canada's tariffs “are” piercing “in the US automotive industry in the long run. (Emily Elvann / Bloomberg via Giti Pictures / Giti Pictures)
“Let's honestly say: Long -term, 25 % tariffs on Mexico and Canada borders cause a hole in it US industry “We've never seen,” Farley said. Explicitly, the company re -authorizes South Korean, Japanese and European companies that import 1.5 million to 2 million vehicles to the United States, which are not subject to Mexican and Canadian tariffs. This will be one of the biggest windshields for those companies. “
“In the meantime, we are Consistent with USMCA Almost all of our content, vehicles and parts finished at the borders. “The type of tariff size will be devastating,” Farley said.
| Tick | Security | The last | Change | Changing % |
|---|---|---|---|---|
| C. | Ford Motor Company. | 9.21 | -0.03 |
-0.32 % |
| General Motors | General Motors Company. | 46.70 | +0.13 |
+0.28 % |
| Stress | Stelantis NV | 13.09 | +0.12 |
+0.93 % |
Ford CEO believes Trump and Musk want to reinforce the US automotive industry
Ford CEO Jim Farley has warned that foreign carmakers would benefit if the 25 % Trump tariff in Mexico and Canada will be implemented. (Photographer: Emily Elkin / Bloomberg via Giti Pictures / Giti Pictures)
Analysts said the car maker based in Michigan, Michigan is less likely to collapse than Canada's and Mexican tariffs than its cross -off rival General Motors or Stonnetis, such as Jeep and Dodge.
This is because most Ford is Production Database Located in the United States, and the vehicles imported from abroad are less profitable than the products that its competitors import.
Ford Mustang Mach-E sale goes beyond the traditional Mustang
The executions said the company is supplying a large portion of its steel and aluminum in the country, so tariffs awaiting it are not as harmful as its operations. (Jeff Kwwellski / Giti Pictures)
Managers said on Tuesday that Ford is considering areas that can create a 25 % potential tariff in Mexico and Canada.
The tariffs were launched in early February, but Trump delayed them at least until March after Canada and Mexico's announcement.
Get Fox Business on a move by clicking here
Trump's announcement of steel and aluminum tariffs that are due to be implemented next month Ford Managers Given that the company receives 90 % of its steel from the United States and about 10 % of Canada, while its aluminum is also produced primarily in the country.
Reuters was involved in this report.