John Lonsky, president of the Lonsky Group, broke the economic agenda of President Donald Trump during an appearance on ‘Verni & Co.’.
Ford CEO Jim Farley said on Tuesday that President Donald Trump’s Tariff Push has so far brought “a lot of cost and much chaos” to the auto industry despite the President’s purpose to help the industry.
“President Trump has talked a lot about strengthening our American auto industry, brings more production here, more innovation in the US, and if this administration can achieve it, then it is one of the most signatures achievements. Hoga, “Farley said in an analyst. Conference in Detroit.
“So far, what we are seeing is a lot of cost and a lot of chaos,” he said.
Farley also said that if 25% of Trump Tariff on Mexico and Canada It is applied for a long time and remain effectively, it is prepared for profit with rivals in Asia and Europe, “it will” blow a hole “in the American auto industry.
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Ford CEO Jim Farley warned that the tariffs on Mexico and Canada would “blow a hole” in the American auto industry for a long time. (Emily Elkinin / Bloomberg Getty Image / Getty Image)
“Let’s be real honest: Long -term, a 25% tariff in the boundaries of Mexico and Canada will blow a hole in a hole American industry That we never saw, “Farley said.” Apparently, it gives free reins to South Korean, Japanese and European companies that bring 1.5 million to 2 million vehicles in the US that will not be subject to the Mexican and Canadian tariffs. This will be one of the biggest winds ever for those companies. ,
“Meanwhile, we are Usmca-corresponding With almost all our materials, vehicles and components crossing the borders. The size of the tariff would be destructive, “Farley said.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | Ford Motor Cum. | 9.21 | -0.04 |
-0.38% |
| GM | General Motors cum. | 46.70 | +0.14 |
+0.29% |
| STLA | Acting NV | 13.10 | +0.12 |
+0.93% |
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Ford CEO Jim Farley warned that if 25% of Trump’s tariffs are applied to Mexico and Canada, foreign vehicle manufacturers would benefit. (Photographer: Emily Elkinin / Bloomberg Getty Image / Getty Image)
Analysts stated that Dearborn, Michigan -based automakers Canada and Mexico have at least exposed to their crossstoun rival General Motors or the original company of brands such as Stellentis, Jeep and Dodge from Tariff.
This is because more of Ford Manufacturing base Located within the US and vehicles imported from outside the country are lower than the products of import of their rivals.
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Ford Execs stated that the company has domestically at domestic level sources of its steel and aluminum, so pending tariffs would not be harmful to its operation. (Jeff Kovalski / Getty Images)
Officials said on Tuesday that Ford is considering areas in which it can manufacture inventory for the preparation of a possible 25% tariffs on Mexico and Canada.
It was planned to make those tariffs effective in early February, but Trump delayed them by at least March after Canada and Mexico.
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Trip of tariff on steel and aluminum which is going to be effective next month Ford officer Keeping the company in mind, 90% of steel from the US and about 10% from Canada, while the company’s aluminum is also mainly sourced domestic.
Reuters contributed to this report.
