Ford CEO Criticizes Trump's Tariffs

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higher tariffs

USA Today

•

Technology

Ford CEO says 25% tariff on Canada, Mexico would 'blow a hole' in US auto industry

Summary

Nutrition label

81% Informative

Ford CEO Jim Farley says a 25% tariff across the Mexico and Canada borders would "blow a hole in the U.S. industry that we've never seen" Farley said there's a "global street fight" in the auto industry with the transition to electric vehicles and the rapid growth of Chinese automakers.

Farley made the comments at the Wolfe Research Auto , Auto Tech and Semiconductor Conference in New York .

Tariffs on imported steel and aluminum could raise car prices.

42% of American -made new cars are currently priced over $50,000 .

Truck and SUV segments are especially at risk as these larger — and pricier — vehicles use more of these materials.

Farley and Ford Chairman Bill Ford have repeatedly talked about getting new vehicle prices down.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English