GuShiio.com ① Ford CEO Jim Farley warned that Trump’s tariff plan would have a “devastating impact” on the auto industry and could cause billions of dollars in profits to disappear;
② Farley complained that tariffs were “unfair”, pointing out that Japan’s Toyota, South Korea’s Hyundai Kia and other car companies export cars to the United States without paying additional tariffs, while American car companies such as Ford face tariff pressure.
Cailian News, February 9 (Editor Liu Rui)Recently, Ford CEO Jim Farley expressed his views on President Trump’s tariff plan.
But to many people’s expectations, he not only warned of the “devastating impact” of tariffs on the U.S. auto industry, but also complained about the “injustice” of Trump’s tariffs-especially targeting Japanese and South Korean auto companies.
Ford CEO complains about unfair tariffs
During Ford’s fourth quarter earnings conference call, Farley warned that if the Trump administration imposes long-term tariffs on imports from Mexico and Canada,It will have a “devastating impact” on the auto industry and may cause the U.S. auto industry to suffer billions of dollars in lost profits.
Many industry experts have long pointed out that
Trump tariffs will seriously harm the interests of American car companies with factories in Mexico and Canada, with Ford and General Motors bearing the brunt.
But Ford CEO Farley specifically pointed out that he was also very dissatisfied with the “unfairness” of tariffs. He pointed out that there are other automakers that export cars to the United States from outside the United States but do not have to pay any tariffs. He believes that it is unfair for Trump to target tariffs on specific countries in this way.
“In my opinion, it is unreasonable that (South Korea) Hyundai Kia is importing 600,000 cars to the United States without facing additional tariffs, and (Japan) Toyota can also import 500,000 cars to the United States without additional tariffs. Why are we facing this situation?” Farley complained.
“I mean, there are millions of cars that come into our country that are not covered by these tariffs, so if we are going to have a tariff policy… it better be targeted at everyone in our industry.”
Farley added:
“We cannot just pick one place or another (as a tariff target).”
In fact, what Fari said was true. Because Toyota does not pay any additional tariffs on cars exported from Japan to the United States, it does currently pay only a small tariff of 2.5%.
As for South Korea’s Hyundai and Kia, 67% of the cars they currently sell in the United States are made in South Korea, with the rest coming from assembly plants in the United States and Mexico. Last year, South Korea’s Hyundai and Kia sold a total of 1.7 million vehicles in the United States.
Farley also said that even if the United States breaks out in a trade war with Canada and Mexico, Ford will be in a better position than other competitors because it is the most U.S. -centered automaker (with the largest number of UAW members) and its main product, F-Series pickup trucks, is produced in the United States.
