Ford CEO says Trump’s tariff changes are useful, but still is not enough

Louisville, Kentucky – President Donald TrumpRural Automotive parts tariff Useful, but more changes are still needed to help automobile companies and develop the American auto industry, Ford Motor CEO Jim Farley said on Wednesday.

The new procedures – which Trump signed at work through an executive order on Tuesday – automobile companies are exposed to some American parts and reduce “accumulation” definitions on each other for the industry.

Tuesday changes came after Car industry appeals For relief, amid the uncertainty about the Trump tariff, including 25 % on imported vehicles in the United States and 25 % coming to auto parts by May 3.

“The changes in the changes in customs tariff plans this week will help reduce the impact on the definitions of automobile companies, suppliers and consumers, but …

Farley said it is “necessary” for American policies to encourage exports as well as reward companies, such as Ford, for them American production.

“Many of the vehicles we build here are exported all over the world. Do we not have to get the credit for that?” Farley said. “These are American jobs, and we have to continue working on reasonable parts to ensure that these supply chains enhance local growth and vehicles at reasonable prices in our country.”

Ford, which is the largest car producer in the United States, says it is a clear source of parts and vehicles based on the total value of goods, and about a net source on the basis of each vehicle. The pure source means that the company is exporting more than it imports.

Farley has put a number of scenarios “What if” regarding the influence on the American auto industry and America if the competitors are identical to Ford manufacturing operations. He said that such procedures mean an increase of 4 million cars per year, 15 new manufacturing factories and more than 500,000 new manufacturing jobs in the United States

“Imagine that companies that import all vehicles in the United States dealt with American manufacturing like Ford,” said Farley. China.

The 25 % definitions will continue on imported vehicles in the United States, but new measures aim to reduce the total tariff that resulted from separate fees – such as an additional 25 % tariff on steel and aluminum – “accumulation” over each other.

Under the request, the additional definitions will remain 25 % on the auto parts that have been appointed by May 3, but vehicles that pass through the final assembly in the United States will be able to qualify to obtain partially over these fees for two years.