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Ford CEO says Trump's tariffs are causing 'chaos' in auto industry
- Ford CEO Jim Farley stated that President Trump's tariffs are causing "chaos" in the auto industry, impacting costs and competition with foreign automakers.
- Trump's 25% tariff on foreign steel and aluminum imports is expected to lead to over 177,000 job losses in America, according to a report from the Brookings Institution.
- General Motors CEO Mary Barra mentioned that the company has been planning to mitigate the impact of tariffs since late November.
- Farley warned that a 25% tariff on imports from Mexico and Canada could severely harm the U.S. auto industry and benefit foreign competitors.
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Trump tariffs will 'blow a hole' in auto industry like 'we've never seen': Ford CEO
Ford CEO Jim Farley is warning President Donald Trump that his proposed 25 percent tariffs on Mexico and Canada are going to cause absolute havoc with the American auto industry.As reported by Wards Auto, Farley told a Wolfe Research investment conference this week that the auto industry so far has ...
·Washington, United States
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By Chris Isidore, CNN The CEOs of Ford and General Motors said Tuesday that long-term 25% tariffs on all imports from Canada and Mexico would greatly disrupt their operations, as well as their profitability. Those tariffs proposed by the Trump administration are on pause right now. However, that hasn't stopped the automakers from preparing for their possible implementation in March.
·Panama City, United States
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Coverage Details
Total News Sources50
Leaning Left14Leaning Right9Center14Last UpdatedBias Distribution38% Left, 38% Center
Bias Distribution
- 38% of the sources lean Left, 38% of the sources are Center
38% Center
L 38%
C 38%
R 24%
Factuality
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