Why Trump’s tweaks to tariffs continue to be a ‘Twilight Zone’ for Detroit’s automakers
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FordCEOJimFarleystatesthatPresidentTrump’sexecutiveordersonautotariffsoffersomerelief,butisinsufficienttopreventvehiclepriceincreases.Theorderprovidesatemporaryreimbursementfortariffsonimportedparts,buttheoffsetissignificantlylessthanthetotaltariffcost.Automakersexpressconcernoverthecomplexityandpotentialimpactofthetariffs,withsomesuspendingfinancialguidance.ThemorningafterPresidentDonaldTrumpsignedanexecutiveorderofferingautomakerswhathecalled“alittlebitofhelp,”ontariffs,FordCEOJimFarleytooktoAmerica’sairwaves—speakingfromFord’sfactoryfloorinLouisville,Kentucky—tosaythepresident’sactionclarifiedsomeissuesaroundtariffs,butdidnotgonearlyfarenoughtohelpautomakerskeepvehiclepricesincheck.
“Boy,dowehavealotofworktodowiththeadministration,”FarleybluntlytoldCNN’sErinBurnett onApril30.
FarleysaidtheDearborn-basedautomakerhasadirectline