"President Donald Trump offered a full-throated defense of his sweeping tariffs on Tuesday, traveling to swing-state Michigan to push the case that he's boosted domestic manufacturing in hopes of countering fears about a weakening job market and still-rising prices that have squeezed American pocketbooks. Trump visited the factory floor of a Ford plant in Dearborn, where he viewed F-150s - the bestselling domestic vehicle in the U.S. - at various stages of production."
"He later gave a speech to the Detroit Economic Club that was meant to be focused on his economic policies but veered heavily to other topics as well. Those included falsely claiming to have won Michigan three times (he lost the state in 2020 to Joe Biden) and recalling the snakes that felled workers during U.S. efforts to build the Panama Canal more than a century ago."
"Ford Motor Company wrote down $19.5 billion in costs related to its electric vehicle unit in December, coming on the heels of Trump killing an EV subsidy. Ford CEO Jim Farley had predicted in September that the end of the subsidy would cut the market in half and said a few months later that a "customer-driven shift" was bearing that prediction out."
President Donald Trump traveled to Michigan to defend sweeping tariffs and argue they have boosted domestic manufacturing and the economy. He toured a Ford plant in Dearborn, viewed F-150 production stages, and spoke with assembly workers and Bill Ford. He told the Detroit Economic Club that the "Trump economic boom" had begun and credited tariffs for the success, while also making incorrect claims about winning Michigan. Ford disclosed a $19.5 billion EV-related write-down after an EV subsidy ended, and Ford’s CEO warned the subsidy cut would sharply shrink the EV market.
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