Things seemed a bit grim for automakers this past spring when President Donald Trump imposed sweeping tariffs on many imported goods - a list that included automobiles not assembled in the U.S., as well as associated parts and certain raw materials used in their construction. The Blue Oval fared better than most thanks to its large domestic manufacturing footprint, but still lost $800 million in Q2 and $700 million in Q3 due solely to tariffs. However, the automaker's outlook in that regard is apparently starting to improve by a substantial margin, it seems.
"I'd like to thank President Trump and his team for the recent tariff policy developments, which are favorable to Ford as the most American auto manufacturer," Farley said during the automaker's Q3 earnings call with investors. "Credit, based on our large U.S. manufacturing volume, will allow us to offset tariffs on imported auto parts we need for our strong American production and manufacturing base."
"In addition, tariffs leveling the playing field for those imported medium and heavy-duty trucks is a positive for Ford because we are no longer disadvantaged for building every single one of our Super Duty trucks here in the United States.”
As Farley notes here, all medium- and heavy-duty Ford Super Duty trucks are built in the U.S., unlike Stellantis and some of its rivals, which are now facing 25 percent tariffs imposed by Trump earlier this month.
Additionally, the Trump admin also recently opted to extend tariff relief in the form of a short-term rebate - announced in April - that was previously scheduled to be lowered in stages before expiring in 2027. Originally installed as a way to give automakers some time to shift foreign production and supply chains to the U.S., that relief will now run through 2029, providing automakers with a 3.75 percent rebate on the sales price of domestically-assembled vehicles.
Comments
For those asking for "proof" on the other post stating Trump received thank yous for the tariffs, now you have it.
They only way to deal with trump ego is by blowing smoke in his behind. Farley is giving thanks because the administration knows they have made a mess. The other mess he has are the farmers and cattle. All he can do is subsidize them
Sounds like one clown blowing smoke up the other clowns ass!
Farley may not be at a disadvantage but every American is die to imbecile' s tariffs and higher prices! 8647 and his entire cabinet. Release the Epstein files?
Trump knows what he is doing. He won’t hurt the auto industry. He is a world wide leader. And has a definite plan for the success of America.