Import tariffs could cost Detroit automakers up to US$42bn
Ford Chief Executive Jim Farley told Fox News on 4 April 2025 that 25% tariffs could help put US automakers on “equal footing” with international competitors. Providing there were exemptions for certain imported specialty components, such as wiring looms, he anticipated affordable vehicles and job growth. Given the breadth of US President Donald Trump’s policy so far, however, there is no guarantee that specific exemptions will be granted.
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Originally posted on: https://www.automotiveworld.com/articles/import-tariffs-could-cost-detroit-automakers-up-to-us42bn/