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Ford CEO decries "cost and chaos" of Trump tariffs

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Ford Motor CEO Jim Farley said U.S. President Donald Trump's proposed and implemented tariffs have added "a lot of cost and a lot of chaos," although Farley said he believes the president aims to strengthen the American auto industry overall.
Ford CEO Jim Farley criticized the Trump administration's 2024 decision to impose a 100% tariff on electric vehicles (EVs) imported from China, describing it as creating "cost chaos" for the automotive industry. Speaking at a conference in Washington, Farley highlighted the unpredictability and the significant cost increases these tariffs have introduced, particularly affecting Ford's plans for EV production and market strategy. He noted that the tariffs complicate Ford's efforts to compete globally, as they raise the price of EVs, potentially slowing down the transition to electric vehicles in the U.S. market. Farley also mentioned the broader implications for trade relations and the potential for retaliatory measures from China, which could further disrupt the automotive supply chain.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/ford-ceo-decries-cost-chaos-trump-tariffs-2025-02-11/ ]