Since Donald Trump won the 2024 U.S. Presidential election last month, much ado has been made about what changes he might impose on the automotive industry, many of which are based on comments made during his campaign. Set to be inaugurated in late January, that speculation will likely continue until we see actual change, but in the meantime, it doesn’t seem as if Ford CEO Jim Farley is too terribly concerned about any of it.
“After 120 years, we’re pretty experienced with policy change,” Farley told reporters recently, according to the Detroit Free Press. “I think Ford is very well-positioned.” Farley did note that he and his leadership team are monitoring potential policy changes closely, but noted that he “isn’t panicked” about anything that Trump may have in store. The exec added that FoMoCo fully expects to see changes in terms of things like emissions regulations, tariffs, and tax credits for EVs.
Farley declined to say whether or not Ford has been in contact with Trump or members of his administration recently, but the future (and former) president has visited with the company’s executive chairman, Bill Ford, on multiple occasions in the past. He did note that he expects Trump to be open to what the automaker has to say, however. “Ford’s employment profile and importance in the U.S. economy and manufacturing, you can imagine the administration will be very interested in Ford’s point of view,” Farley said.
As Ford Authority previously reported, Trump is reportedly considering adding tariffs to goods imported from places like Canada and Mexico, in addition to recently-imposed duties on certain Chinese goods. Additionally, Trump reportedly wants to eliminate the current $7,500 EV federal clean energy tax credit, and may also cancel the United States Postal Service (USPS) contract with Oshkosh Defense and Ford, which is set to add thousands of all-electric delivery vehicles and charging stations.
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It seems to be understood for the most part that tariffs would increase the cost of goods, and one thing we all certainly don’t need is more added expense.
This story deals with Ford in the United States. Why is there a picture of a Ford model that is not and probably won’t be available in the United States at the top of the article just below the title?
Mary Barra says the same thing. More proof that they’re both stoned out of their minds.
How can he not expect problems with the Maverick coming in from Mexico and Nautilus coming from China? Am I missing something here?
He can deal with it? Trump will make it easier for American companies like Ford. This is how out of touch he is. He should be fighting the government tooth and nail. This is another reason vehicles suck today. Turbos, cvt transmissions direct injection all equal problems for customers plus all this so called safety equipment that is just a pain in the ass and drives up the cost of vehicles.
I think people need to chill out on the whole tariff thing. Trump used the THREAT of tariffs in his first term mainly as a negotiating tool in trade deals and there is no reason to believe that is going to change this time around despite all the fearmongering from the Fake News media. He actually does care about the well being of everyone and every business in this country. That served him well in his first term despite all the naysayers. If he does feel the need to impose any tariffs it will only be as a last resort and in a way that has the least amount of negative impact on OUR economy. The goal is fair and balanced trade.
Hopefully Mr.Farley Ford Motor Co. is better prepared to deal with Pres.Trumps potential changes than they were Drinking Pres.Bidens Kool-Aid. Which cost us All and will continue to cost us All for decades. My Question for you is, what do you see when you look out the window of your Chinese E-Vehicle parked in Our Company Parking Lots? I’m hearing that Buick is eating our Lunch. Between poor quality and lack of selection You and Senior Leadership certainly have your hands Full. 45 Year Loyal Employee and Stockholder.