One significant difference between Donald Trump’s first term and his second is the sheer amount of acquiescence and knee-bending corporate America appears willing to do in response to his norm-breaking behavior. But at least one major American executive is starting to crack under the pressure of the Trump tariff regimen: Ford CEO Jim Farley is ringing the alarm bells for the American automakers, warning that the impending penalties on imports are going to put a hard squeeze on the industry.
While speaking at a Wolfe Research conference in New York on Tuesday, Farley said that Trump’s policies have so far led to “a lot of cost and a lot of chaos.” Trump has repeatedly talked up the automotive industry, going so far as to claim he “saved” it during his Inauguration address, but Farley warned that he just might end up tanking it: “Let’s be real honest, long term, a 25% tariff across the Mexico and Canadian border would blow a hole in the US industry that we have never seen,” he said.
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