Ford CEO Jim Farley questioned the fairness of President Trump's proposed tariffs on imports, highlighting that other global automakers like Hyundai and Toyota face no incremental tariffs. He called for a comprehensive tariff policy that equally affects all competitors, rather than a selective approach that favors some manufacturers. Meanwhile, Ford reported significant losses in its EV program and is exploring hybrid powertrains to attract a broader customer base. The current tariff discussions add to the chaos and challenges Ford faces as it navigates the evolving automotive landscape.
Why are we having this conversation while Hyundai-Kia is importing 600,000 units in the U.S. with no incremental tariff? And why is Toyota able to import a half a million vehicles?
If we're going to have a tariff policy that lasts for a month, or whatever it's going to be, years - it better be comprehensive for our industry.
What's currently on the table would negatively affect only some global automakers that import parts or vehicles from North America.
Ford announced Wednesday that it lost more than $5 billion on its EV program in 2024.
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