Ford Motor CEO Jim Farley said President Donald Trump’s executive order softening some of the automotive tariffs is helpful, but more changes are needed to support the US auto industry’s growth.
Farley emphasized the need for comprehensive policies that encourage exports and reward American production. He pointed out that many vehicles built in the US are exported globally, and it’s essential to get credit for those sales.
According to Farley, if competitors matched Ford’s manufacturing operations, it would lead to an increase of 4 million vehicles per year, 15 new manufacturing plants, and over 500,000 new jobs.
While tariffs on imported vehicles will remain, the new measures aim to reduce the overall tariff level by eliminating “stacking” levies. However, some parts tariffs will still take effect, and vehicles going through final assembly in the US can qualify for partial reimbursements for two years.
Source: https://www.cnbc.com/2025/04/30/ford-ceo-says-trumps-tariff-changes-are-helpful-but-still-not-enough.html