Trump tariffs will cost U.S. carmakers billions and are a ‘bonanza’ for Asian competitors, warns Ford CEO Jim Farley
Ford CEO Jim Farley assured investors that his team has a plan to shield the company from the worst effects of Donald Trump’s tariff threats—provided the former president doesn’t go beyond brinkmanship and posturing.
Ahead of any new import taxes, Farley said Ford and its suppliers intend to stockpile vehicles and parts that typically move between the U.S. and Mexico.
Hyundai and its affiliate Kia already ship more than 600,000 cars into the U.S. annually, while Toyota imports another half-million—vehicles that would remain untouched by the administration’s planned tariff hikes.
Source: FORTUNE