Ford CEO Calls For More Changes Beyond Tariff Relief To Help Auto Industry

Ford Motor Co. (F) CEO Jim Farley reportedly said on Wednesday that further changes are needed, despite President Trump softening the tariff blow to the auto industry the day before.

Trump on Tuesday signed an executive order aimed at reducing the overall tariff on vehicle imports by preventing the stacking or accumulation of separate tariffs one on top of the other. However, 25% tariffs on vehicles imported into the U.S. will continue.

While tariffs on auto parts will still take effect in the upcoming weeks, automakers can receive partial reimbursements on the levies if the vehicles are assembled in the U.S. through the end of April 2027, the President said.

While the reprieve from the Trump administration is helpful, it is not enough to help the American auto industry grow, Farley said on Wednesday, as reported by CNBC.

“The changes this week on tariff plans will help ease impact on tariffs for automakers, suppliers and consumers, but … we need to continue to work closely with the administration on a comprehensive set of policies to support our shared vision of that healthy and growing auto industry, and we are not there yet,” Farley said, as per the report.

The CEO was speaking at a launch event in Kentucky for the company’s 2025 model year Ford Expedition sport-utility vehicle (SUV).

Farley further recommended policies that encourage exports and reward carmakers for producing vehicles in the U.S.  

F stock is up by about 3% so far this year, but down by about 18% over the past 12 months.

Also See: Nvidia Gets A Rare ‘Sell’ Rating On Wall Street: Analyst Says Stock Might ‘Underperform Relative To Peers’

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on