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Ford CEO says Trump's tariffs are causing 'chaos' in auto industry
- Ford CEO Jim Farley stated that Trump's 25% tariffs on Mexico and Canada would 'blow a hole' in the U.S. auto industry, benefiting foreign automakers from Asia and Europe instead.
- Farley criticized the tariffs for causing 'a lot of cost and a lot of chaos' in the auto industry, despite Trump's intention to strengthen it.
- European Commission President Ursula von der Leyen expressed regret over the U.S. decision to impose tariffs on European steel and aluminum exports, vowing a 'firm and proportionate' response.
- The tariffs, effective March 4, will apply to millions of tons of imports from various countries, including Canada, Brazil, and Mexico, and could trigger a trade war.
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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 ...
·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 Left13Leaning Right9Center14Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 36%
C 39%
R 25%
Factuality
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