Ford CEO Jim Farley made a strong statement regarding potential tariffs, emphasizing that a 25% levy would lead to higher prices for car buyers. He noted that such tariffs would not only impact vehicle costs but also pose adverse effects on U.S. jobs and the automotive industry profits. With President Trump's planned tariffs currently on hold for negotiations, concerns remain about the long-term implications if enacted. Overall, these tariffs are viewed as a significant threat to the pricing landscape of the automotive market, particularly affecting consumers directly.
With billions of dollars of industry profit wiped out, and adverse effects on US jobs as well as the entire value system in our industry, tariffs would also mean higher prices for customers.
There's no question that tariffs at the 25 percent level with Canada and Mexico, if they're protracted, would have a huge impact on our industry.
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