President Donald Trump imposed tariffs of 25 percent on imported automobiles earlier this month, and stated that he would also place the same levies on imported parts that don’t comply with the current United States-Mexico-Canada Agreement, such as engines, transmissions, and electrical components, no later than May 3rd. However, following some lobbying on Ford’s part – along with its peers – Trump opted to give automakers two years to boost the percentage of domestic content in their vehicles that are assembled in the U.S. before new tariffs take effect. Regardless, Ford CEO Jim Farley believes more action needs to be taken.
“The changes this week on tariff plans will help ease the impact of tariffs for automakers, suppliers and consumers,” Farley told Ford’s plant workers, according to the Associated Press. “But this is what we really care about. We need to continue to work closely with the administration on a comprehensive set of policies to support our shared vision of that healthy and growing auto industry. And we are not there yet.”
“So many of the vehicles we build here are exported around the globe,” Farley added. “Shouldn’t we get credit for that? Those are American jobs. And we have to keep working on affordable parts to ensure that those supply chains promote domestic growth and affordable vehicles in our country. I think we’re in the first inning of a nine-inning game. If you’re an overseas company and you’re importing 50 percent or 70 percent of your U.S. vehicles and you can’t move production, can’t build a plant in a year or two, you’re going to have some tough choices to make.”
Previously, a report indicated that Trump’s tariffs would increase production costs of the Ford F-Series lineup – the Ford F-150 and Ford Super Duty – adding around $400 to each unit, though it’s unclear if these recent changes have provided relief in that regard, nor how they will impact costs of other models.
Comments
I heard him on NPR, 30 April.
He all but fellated Don the Con, which should make the KKKonservative nattering nay-bobs of negativity who frequently comment here with little regard or respect for Jim Farley.
What a conundrum for you people now: to hate or to love Jim Farley, now that he sounds more like you than ever before.
Bringing manufacturing and jobs back to the US is such a horrible thing, you libtards really are a special kind of dumb
Sammy………….. do you support the draft dodger sissy boy Trump?
The desire to increase US auto manufacturing means dealing with those hideous UAW wages on a larger scale. Which in and of itself means higher vehicle prices, which consumers are already tired of. Brilliant, once again.
Bring manufacturing back to the USA mean paying double the price for a vehicle.