Ford CEO Jim Farley raised alarms about President Trump's tariff policies, stating they threaten to undermine the U.S. auto industry significantly. Speaking at a Wolfe Research conference, he noted that high tariffs on trade with Canada and Mexico, along with steel and aluminum tariffs, could drastically increase production costs. GM's CEO also highlighted challenges in mitigating these tariffs, with only partial relief possible. Experts predict these policies could have severe economic repercussions, particularly for states relying heavily on the auto industry, while Farley advocates for urgent policy clarity to aid manufacturers amid rising uncertainty.
a 25% tariff across the Mexico and Canadian border will blow a hole in the U.S. industry that we have never seen.
tariffs could deliver a triple-whammy for the auto industry and hammer state economies in Michigan, Ohio, Indiana.
There's a lot of policy uncertainty here, but in the meantime, we're scrambling to manage the company as professionals.
We're expecting and hoping there will be a pony in here for the auto industry.
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