Ford CEO Jim Farley has a question about President Donald Trump’s threatened invoices about imports from Mexico, Canada and China: Why stop there?
Farley told a teleconference on Wednesday that Trump’s selective approach “makes no sense”.
“Why do we have this discussion while Hyundai-Kia imports 600,000 units into the US without a successive invoice? And why is Toyota able to import half a million vehicles into the US without gradual invoices?” “If we are going to have a one -month duty policy, or whatever is to be, years – it is better to be complete for our industry. We can’t just choose a place or the other place, because this is a bonanza for our competitors. “
In a statement, Ford’s spokesman Ian Thibodeau said Farley “was not asking for more invoices”.
“He explained that what is on the table today would only affect only some worldwide automakers that import accessories or vehicles from North America,” Thibodeau said. “This, while companies from Korea, Japan and Germany could continue to import vehicles into the US without a similar penalty.”
Farley’s most protective thinking comes at a difficult time for Ford.
The company announced on Wednesday that it lost more than $ 5 billion for the EV program in 2024. Its electric truck, the F-150 Lightning, had surpassed Cybertruck last year. The company is developing a low -cost EV platform that could supply many vehicles, but are still years away. And while the company struck Wall Street’s expectations for 2024, it predicted a rugged year ahead.
Meanwhile, Ford has confirmed that it is trying to extend to the offer of “extensive range” hybrid engines (essential electric vehicles with gas generator) in order to win buyers who do not want to go all-in to battery power.
But first, he must navigate the chaos created by Trump’s administration.
Farley warned that the proposed 25% invoices in imports from Mexico and Canada would cause “billions of dollars” of industry profits to “eliminate”, would have “adverse impact on US jobs” and would mean that would mean “higher prices” for customers.
If these invoices are applied and maintained – a large “if”, believing that Trump has already spent the deadline to apply them a month – Farley said it would have a “devastating impact”.
And yet, Farley said he believes that the administration “is committed to reinforcing, without weakening the automotive industry of our nation”.
“They understand and appreciate how vital our industry is for jobs, economics, national security and communities across our country,” Farley said.
