Ford Motor Company CEO Jim Farley has calculated the impact of President Trump’s auto tariffs on the company’s future production and sales. The tariffs, announced in March, are set to increase car prices for Americans in the summer and fall.
New vehicle sales have been increasing steadily this year, with a jump in March when the tariffs were announced. Shoppers are rushing to buy cars now, fearing price increases later. Experts agree that if tariffs remain in place, prices will likely rise.
Farley hopes his tariff strategy will encourage domestic car companies to produce more vehicles at home. However, the CEO is also acknowledging the challenges and uncertainties posed by the policy.
As NPR’s Mary Louise Kelly spoke with Farley, he revealed Ford’s plan to adapt to the changing market conditions. The company is exploring ways to mitigate the effects of the tariffs on its production costs and sales.
Source: https://www.npr.org/2025/05/01/1248444368/ford-ceo-talks-trump-automobile-tariffs