Following President Trump's tariffs on steel and aluminum imports, Ford and General Motors are assessing their strategic responses amidst rising costs. Ford CEO Jim Farley criticized the tariffs, stating they have led to 'cost and chaos' rather than strengthening the auto industry. Meanwhile, GM's Mary Barra suggested her company might mitigate 50% of the tariff impact. Ford is actively working to build up inventory in anticipation of further tariffs affecting products from Mexico and Canada, reflecting a cautious but proactive approach in a volatile trade landscape.
President Trump has talked a lot about making our U.S. auto industry stronger, bringing more production here, more innovation to the U.S., and if this administration can achieve that, it would be, I think, one of the most signature accomplishments.
So far, what we're seeing is a lot of cost and a lot of chaos.
Ford is looking to build up inventory where it can in order to prepare for even more widespread tariffs of 25 percent, expected to be lodged against all products from Mexico and Canada.
Despite the newly imposed metal tariffs, Ford has noted that most of its steel and aluminum materials currently come from within the U.S., though it's also expecting to take on some of the increased costs facing other suppliers.
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