President Donald Trump’s tariffs, implemented or just threatened, are causing “chaos” for the U.S. automotive industry, according to Ford…
President Donald Trump's tariffs and threats are causing"chaos" for the U.S. automotive industry, according to Ford Motor CEO Jim Farley.
"President Trump has talked a lot about making our U.S. auto industry stronger, bringing more production here, more innovation in the U.S., and if his administration can achieve that, it would be one of … the most signature accomplishments," Farley said Tuesday during a Wolfe Research conference."So far what we're seeing is a lot of cost, and a lot of chaos.
"We'll have to deal with it. That's what I'm talking about cost of chaos. A little here, a little there. … This is what we're dealing with right now," Farley said.Farley seemed most concerned about potential duties on goods from Mexico and the U.S., saying a long-term 25% tariff that could go into effect as soon as March 1 would be"devastating" and"blow a hole in the U.S. industry that we've never seen.
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