Ford Motor Co., the CEO Jim Farley gives the thumb sign before announcing that Ford Motor will associate with Chinese technology Amperex, to build an electric vehicle battery factory in Marshall, Michigan, during a conference Press in Romulus, Michigan, February 13, 2023.
Rebecca Cook | Reuters
DETROIT – Ford engine CEO Jim Farley said on Wednesday that if the Trump administration was going to implement prices affecting the automotive industry, he should take a “complete” overview of all countries.
Farley distinguished Toyota Motor and Hyundai Motor for importing hundreds of thousands of vehicles per year from Japan and South Korearespectively, who have little or no tasks compared to the president of the price at 25% Donald Trump threatened to impose in Canada and Mexico.
“There are millions of vehicles that enter our country that are not applied to these [incremental tariffs]”Farley said during the company’s fourth benefits of the company with investors.” So, if we want to have a price policy … It is better to be complete for our industry.
“We cannot just choose one place or another because it is a boon for our import competitors.”
Farley’s comments follow Trump implementing a 10% additional price on goods from Chinawhich include cars and negotiations in progress with Canada and Mexico concerning 25% of direct importance from these countries in the United States
For years, Ford has praised its investments in the United States, while having the most American workers in all car manufacturers, even if it is considered a drawback for its business.
GlobalData reports that 46.6% of all vehicles sold in the United States last year were produced outside the country. South Korea, 8.6%, And Japan, at 8.2%, rank second and third in vehicle imports, dragging only Mexico, to 16.2%, reports Globaldata.
Cars imported from South Korea currently have no rate, while those imported from Japan are subject to 2.5% of rights. Truck imports for countries are 25%.
Apart from Hyundai and his Society of Brothers and Sisters Kia, General Motors Imports a notable amount of vehicles without tariffs from South Korea.
Nissan engine And Honda MotorAs well as small car manufacturers such as Subaru, also import Japan vehicles, as well as Toyota.
