
President Donald Trump’s tariffs, both implemented and just threatened, are causing “chaos” for the U.S. automotive industry, according to Ford Motor CEO Jim Farley.
The chief executive of America’s second largest automaker described 25% tariffs on steel and aluminum, as well as threatened levies of the same amount on Mexico and Canada as adding “a lot of cost and a lot of chaos” to the industry.
Farley seemed most concerned about potential duties on goods from Mexico and the U.S., saying a 25% tariff that could go into effect as soon as March 1 would be “devastating” and “blow a hole in the U.S. industry that we’ve never seen.”