Ford CEO Jim Farley expressed concerns about potential job losses due to the Trump administration's possible withdrawal of subsidies for electric vehicle production. He highlighted Ford's significant investments in EV manufacturing across several states and emphasized that repealing Biden-era financial support would jeopardize these jobs. He also criticized Trump's proposed tariffs on automotive imports from Canada and Mexico, arguing it would harm the U.S. auto industry. Despite his criticisms, Farley acknowledged Trump's efforts to strengthen domestic auto production amid increasing foreign competition.
If Republicans repeal Biden-era legislation that allocated billions of dollars in subsidies and loans for the projects, many of those jobs will be at risk.
A 25 percent tariff across the Mexico and Canadian border will blow a hole in the U.S. industry that we have never seen.
Even as he took issue with specific policies, Mr. Farley commended how Mr. Trump has talked a lot about making our U.S. auto industry stronger.
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