Ford CEO Jim Farley Says Trump's Proposed Tariffs On Mexico, Canada Will Be Manageable In Near Term But Will Have 'Huge Impact' If Protracted

Quick Summary:

Ford Motor Co.(NYSE:F) CEO Jim Farley addressed the uncertainty surrounding proposed tariffs on imports from Mexico and Canada on U.S.automakers, saying it would wipe out billions of dollars of industry profits if protracted.

The Trump Presidency has created significant uncertainty around the U.S.auto market given automakers including Ford, General Motors, Toyota, Honda, and Volkswagen build vehicles in Mexico.U.S.automakers also rely on parts from across the border for manufacturing.

What Happened: President Donald Trump proposed tariffs of 25% on goods imported from Mexico and Canada over the last weekend and 10% on imports from China.

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets: United StatesCanadaChinaMexico

Topics: Jim Farley US3453708600 Mobility Electric vehicles News EVs Tech F Benzinga

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-06 @ 12:30:07 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 521 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 25926328

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