The threats and price movements of US President Donald Trump causes “chaos” in the American industry, said the CEO of Ford Motor Co. (F), Jim Farley.
Farley, the leader of the moment in the American car manufacturer, said that the last costs of 25% have been imposed on American metal and aluminum imports that add “many costs and many chaos” in the automotive industry of Detroit. Farley said that the maximum of Steel and Aluminum from Ford arrives in the country, there are suppliers of the automotive manufacturer that supplies foreign materials, which can have an effect on commercial costs.
Farley added that the maximum involved on the prospective costs of 25% that can be placed in the goods of Canada and Mexico from March 1, a scenario that can be “devastating” for American car brands and “blow a hole in the American industry. “
Farley that the automotive industry is strongly incorporated in North America, with production factories and portions suppliers in the United States, Canada and Mexico. Until now, portions and cars have passed freely in the 3 countries. But Trump’s costs now threaten this loose movement of goods.
Farley said he went to Washington, D. C. This week at the moment in a month to meet with government representatives, adding members of the Congress, to underline how the risk of rates in the automotive industry is.
Stock F has dropped 24% in the 12 months.
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