Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.