Ford Motor CEO Jim Farley has criticized the Trump administration's import tariffs on vehicles, arguing they harm American companies and benefit foreign manufacturers.
Farley stated that the tariffs imposed on vehicles from Mexico and Canada are detrimental to American automakers, while competitors from the Far East will be minimally affected.
The 25% tariffs on cars produced in Canada and Mexico would cost the US auto industry "billions of dollars," Farley warned.
Farley suggested that if the US government is going to impose tariffs, it should do so on other countries to compensate for the unequal treatment of the current proposal.
Farley specifically targeted Asian competitors like Hyundai, Kia, and Toyota, which send millions of vehicles to the US with very low tariffs.