Ford CEO says Trump tariff changes are useful but still insufficient

Louisville, Kentucky – President Donald Trump‘To pay for Tariffs on automobile details Useful, but to assist automakers and the growth of the American automotive industry is still needed more changes, Ford Motor CEO Jim Farley said on Wednesday.

New actions – which Trump signed the action through the executive order on Tuesday – to cover automakers for some American parts and reduces the “laying” of tariffs on each other for this industry.

Changes on Tuesday occurred after requests from the automotive industry To facilitate the normative uncertainty around Trump’s tariffs, including 25% on imported vehicles in the US and future 25% on car details by May 3.

“Changes this week on tariff plans will help to facilitate the impact on tariffs for automakers, suppliers and consumers, but … Kentucky.

Farley said it was “essential” for American policy to encourage exports as well as reward companies, such as Ford, for them American production.

“So many vehicles we build here are exported around the world. Don’t we get a loan for it?” said Farley. “These are American jobs and we need to continue working on available parts to ensure that these supply networks contribute to domestic growth and available vehicles in our country.”

Ford, which is the largest vehicle manufacturer in the US, says it is a net exporter of parts and vehicles based on the total value of goods and almost pure car -based exporter. Pure exporter means that the company exports more than importing.

Farley outlined a number of “What” scenarios concerning the impact on the American industry and America when the competitors corresponded to Ford production operations. He said

“Imagine if companies that import all vehicles in the US were treated with American production like Ford,” said Farley whose company still imports a noticeable number of vehicles and details from Mexico, Canada and China.

Tariffs for 25% on imported vehicles in the US will continue, but new measures are aimed at reducing the total tariff level, which has led to individual fees – for example, an additional 25% of steel and aluminum tariffs – “laying” on each other.

According to the orders, an additional 25% of the auto parts tariffs that were to start on May 3 will also take effect, but the vehicles passing through the final assembly in the US will be able to obtain partial compensation for these fees for two years.