Over the past few weeks, U.S. President Donald Trump has threatened to impose tariffs of 25 percent on goods imported from Mexico and Canada – though those are on hold, at least temporarily – all while slapping a 10 percent tariff on Chinese goods and 25 percent on imported steel and aluminum. Such moves stand to impact Ford and other automakers in various ways, but it doesn’t seem as if Trump is finished imposing tariffs on imported goods just yet.
Rather, according to the Associated Press, Trump has announced that he will execute “reciprocal” tariffs on goods that match levies other countries add to U.S. imports currently, which is an effort to level out any existing trade imbalances. “I’ve decided for purposes of fairness that I will charge a reciprocal tariff,” Trump said of the decision. “It’s fair to all. No other country can complain.”
It’s unclear exactly what these reciprocal tariffs will consist of or how they will be distributed among countries, but each stands to vary and sets the stage for negotiations pertaining to existing trade agreements. A senior White House official stated that the administration expects tariff revenue to help balance what is anticipated to be a $1.9 trillion budget deficit, too.
Regardless, Ford CEO Jim Farley has stated his own concerns pertaining to these tariffs, noting that they could cause “a lot of chaos” in the automotive industry, claiming that potential Mexican tariffs would prove “devastating” and “blow a hole in the U.S. industry that we’ve never seen,” given the fact that Ford currently builds a trio of models there and sells them in the U.S. Farley also recently stated his desire for more comprehensive tariffs, with levies also being added to imports from places like Japan and South Korean – where some of Ford’s biggest rivals are located. The exec recently paid a visit to Capitol Hill to discuss these matters with lawmakers, though it’s unclear what specific details the two sides mulled over.
Comments
Oh no, is there stock gonna drop more…..
Regardless they donated to his campaign knowing full well this was gonna happen
their, still waking up
Just about every industry that uses any foreign content whatsoever will be…which is most…and of course those increases will be passed along to the consumer…wasn’t Trump supposed to bring prices down…? As Musk said in in most recent television interview, “most voters didn’t really know what they were voting for.” This statement is one of the few I actually have to agree with the man on!
Says the person who obviously voted for Harris. Give me a break.
The major car companies each gave Trump $1 million, guess they thought he would be nice to them. These tariffs will hurt the business whichever border your behind.
Actually Ford and other companies created this problem by moving jobs to other countries. We have trillions in Debt. Democrats want to raise taxes and spend. Trump will ise tariffs and reduce government spending. We are the world’s largest customer and economy. I recommend you grow a pair! Trump is doing exactly what he said he was going to do
DOGE should shut the Maverick plant down!
Yet, you being a gm troll, don’t mind the following being made by gm in Mexico for the USA market
Chevrolet Blazer.
Chevrolet Blazer EV.
Chevrolet Equinox.
Chevrolet Equinox EV.
Chevrolet Silverado 1500.
GMC Sierra 1500.
GMC Terrain.
One of the reasons manufacturers moved to other countries was to meet consumer demand for lower price brought on by cheaper labor, more affordable goods. Because consumers were buying cheaper imports, they were forced to make the move to stay competative . If they hadn’t, they would have been out of business. Labor in this country is much more expensive.
You are correct sir!
Better save your money folks!