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Ford Says a Trump Tariff Won’t Alter Mexico Plans
Ford Motor Co. CEO Mark Fields tells reporters the company won’t reduce its investment plans in Mexico even if president-elect Donald Trump makes good on his threat to impose a 35% import tariff on vehicles made there.
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Ford Motor Co. CEO Mark Fields tells reporters the company won’t reduce its investment plans in Mexico even if president-elect Donald Trump makes good on his threat to impose a 35% import tariff on vehicles made there.
Such a tax would apply to all carmakers and have an enormous negative effect on the U.S. economy, Fields points out. He predicts a more prudent trade policy will prevail. In the meantime, he says Ford is moving ahead with plans to move production of the company’s last American-made small car, the Focus, to Mexico.
Fields says Ford is in “constant” contact with Trump’s transition staff and intends to work effectively and positively with the new administration and Congress.
He says Ford’s own wish list for the new president is to reduce taxes, gain protection from currency manipulation by foreign governments and push for closer alignment of fuel economy standards with the realities of the car market.
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