Ford CEO Jim Farley is urging the US government to conduct a comprehensive review of tariffs on imported automobiles, citing the need to level the playing field for American automakers. The call comes as President Donald Trump has threatened 25% tariffs on imports from Canada and Mexico, while implementing 10% additional tariffs on goods from China.
Farley singled out Japan and South Korea, which have minimal duties on their auto exports compared to US tariffs. He noted that if the US is going to impose tariffs, it should be applied consistently across all countries.
According to GlobalData, in 2022, over half of all vehicles sold in the US were imported from outside the country. South Korea and Japan are among the top two importers, with minimal duties on their auto exports. The Trump administration’s recent tariffs on Canada and Mexico have raised concerns about the impact on American automakers.
Ford has emphasized its investments in the US and its commitment to having American workers. However, the company faces stiff competition from foreign automakers, which often enjoy tariff-free imports. Hyundai and Kia are among those companies that import vehicles from South Korea without tariffs, while Toyota Motor and Honda Motor bring in auto parts from Japan with minimal duties.
With ongoing negotiations between the US and Canada, Mexico, and China on auto tariffs, Ford’s comments highlight the need for a comprehensive review of US trade policies to ensure fair competition.
Source: https://www.cnbc.com/2025/02/05/ford-ceo-calls-for-comprehensive-tariff-analysis-for-all-countries.html