Ford goes protectionist as EV losses top $5B

Ford CEO Jim Farley has a ask about Plivent Donald Trump’s dangerened tariffs on starts from Mexico, Canada, and China: Why stop there?

Farley shelp in a conference call Wednesday that Trump’s pickive approach “doesn’t produce sense.”

“Why are we having this conversation while Hyundai-Kia is starting 600,000 units in the U.S. with no incremental tariff? And why is Toyota able to start a half a million vehicles in the U.S. with no incremental tariffs?” Farley asked. “If we’re going to have a tariff policy that lasts for a month, or wdisenjoyver it’s going to be, years — it better be comprehensive for our industry. We can’t equitable cherry pick one place or the other, becaemploy this is a bonanza for our start competitors.”

In a statement, Ford spokesperson Ian Thibodeau shelp Farley “wasn’t calling for more tariffs.”

“He was elucidateing that what’s currently on the table would pessimisticly impact only some global autoproducers that start parts or vehicles from North America,” Thibodeau shelp. “That, while companies from Korea, Japan and Germany would be able to persist to start vehicles to the U.S. without a analogous penalty.”

Farley’s more protectionist slenderking comes at a tricky time for Ford.

The company declared Wednesday that it lost more than $5 billion on its EV program in 2024. Its electric pickup truck, the F-150 Lightning, was outsbetter last year by the Cybertruck. The company is prolonging a low-cost EV platcreate that could power a number of vehicles, but it’s still years away. And while the company beat Wall Street foreseeations for 2024, it predicted a rawer year ahead.

In the nastytime, Ford validateed it is seeing to enbig into recommending “extfinished range” hybrid powertrains (essentiassociate electric vehicles with a gas generator on board) in order to prosper over buyers who don’t want to go all-in on battery power.

But first, it has to steer the disorder produced by the Trump Administration.

Farley alerted that the gived 25% tariffs on starts from Mexico and Canada would caemploy “billions of dollars” of industry profits to be “wiped out,” would have an “adverse effect on the U.S. jobs” in the auto sector, and would nasty “higher prices” for customers.

If those tariffs are carry outed and carry oned — a huge “if,” think abouting Trump has already punted the deadline to carry out them a month — Farley shelp they would have a “deimmenseating impact.”

And yet, Farley shelp he apvalidates the administration is “pledgeted to reinforceing, not frailening our nation’s auto industry.”

“They understand and appreciate how vital our industry is to jobs, the economy, our national security and the communities apass our country,” Farley shelp.