Ford Motor's CEO Jim Farley expressed concerns over potential 25% tariffs from the Trump Administration on imports from Mexico and Canada, where over 20% of US cars are sourced. In 2023 alone, the US imported $69 billion in vehicles from Mexico and $37 billion from Canada. Ford's vulnerability lies in its reliance on these imports, particularly for its F-series models. Despite recent struggles in China and warranty issues impacting earnings, Farley warns that these tariffs could be "absolutely crippling" for the company.
"In 2023, the United States imported $69 billion worth of cars and light trucks from Mexico - more than any other country - and $37 billion from Canada."
"I think those tariffs would be absolutely crippling, and I'm not exaggerating," said Ellen Hughes-Cromwick, former chief economist at Ford.
Collection
[
|
...
]