Ford's CEO said Chinese carmakers entering the US would be 'devastating'

"The Chinese automobile sector was powerful, with enough capacity in China to cover all the manufacturing, all the vehicle sales in the United States. We should not let them into our country because of the economic impact."

"Manufacturing's the heart and soul of our country, and for us to lose that to those exports would be devastating for our country."

"All the vehicles have 10 cameras, you know, they can collect a lot of data. And there's no way this is a fair fight."

"Chinese players face no real competition from Tesla, GM, or Ford because of the strength of their products."

Jim Farley, CEO of Ford, expressed concerns about the entry of Chinese automakers into the US market, highlighting their manufacturing capacity and potential economic impact. He emphasized the importance of manufacturing to the US economy and warned against losing it to foreign exports. Farley also raised issues regarding cybersecurity risks associated with Chinese vehicles, noting their data collection capabilities. He acknowledged the strength of Chinese EVs, stating they are superior to Western offerings and face little competition from established US automakers. Current tariffs prevent Chinese EVs from entering the US market.

Read at www.businessinsider.com