Ford Motor could be forced to fire employees if the Trump administration terminates subsidies and other financial support for the manufacture of electric vehicles, the company's chief executive said Tuesday. Ta.
Ford has invested heavily in factories to produce batteries and electric vehicles in Ohio, Michigan, Kentucky and Tennessee, and Ford CEO Jim Farley meets in New York. stated in. “Many of these jobs would be at risk,” Farley said if Republicans repealed Biden-era laws in which they allocated billions of dollars in grants and loans for projects.
Farley was also very critical of President Trump's threat to impose tariffs on cars and components in Mexico and Canada. Ford manufactures several vehicles in Mexico. This includes Maverick pickups, Mustang Mach-E Electric SUVs and Canadian engines.
“The 25% tariff across the Mexican-Canada border will blow a hole in the US industry we have never seen,” Farley said according to a transcript of his remarks provided by Ford. . “It gives free reins to businesses in Korea and Japan and Europe that bring 1.5 million to 2 million vehicles to the US, not subject to Mexico and Canada's tariffs.”
Farley's remarks at a conference organized by Wolfe Research provided a rare example of a business executive who questioned Trump's policies or statements. In most cases, executives offered praise or remained quiet.
Farley praised how Trump is doing, even if he had problems with certain policies. “We talked a lot about strengthening the US automotive industry and bringing more production here or innovation in the US,” which is particularly important. Manufacturers have expanded overseas.
“If this administration can achieve that, I think it's one of the most signing achievements,” Farley said.
But he added, “So far, we're seeing a lot of costs and a lot of confusion.”
Farley's comments also highlighted the political challenges Republicans face when trying to reverse democratic policies designed to promote electric vehicles. Much of the investment in the factory went to state and legislative districts represented by Republicans who would lose their jobs.
