Ford's CEO Jim Farley Warns of "Devastating" Consequences of Trump's Tariffs on U.S. Auto Industry

Source: techcrawlr

Ford’s CEO Jim Farley is raising alarms about the potential impact of tariffs on imports from Mexico and Canada, set to begin on March 1. He believes these new tariffs, which could reach as high as 25%, will hurt the US auto industry badly.

Farley explained that the tariffs are already causing chaos and increasing costs for automakers, even though they haven’t been enforced yet. He warned that if they continue, the effects could be severe, affecting both manufacturers and customers.

During an investment conference, Farley highlighted how President Trump’s push to make the US auto industry stronger and bring more production here had been a major goal. But instead of benefiting from this strategy, Farley said the industry is now facing extra financial strain and uncertainty.

Read more: https://techcrawlr.com/fords-ceo-jim-farley-warns-of-devastating-consequences-of-trumps-tariffs-on-u-s-auto-industry/

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Want A Better Economy? History Says Vote Democrat

Personal disposable income has grown nearly 6 times more under Democratic presidents

Gross Domestic Product (GDP) has grown 7 times more under Democratic presidents

Corporate profits have grown over 16% more per year under Democratic presidents (they actually declined under Republicans by an average of 4.53%/year) Average annual compound return on the stock market has been 18 times greater under Democratic presidents (If you invested $100k for 40 years of Republican administrations you had $126k at the end, if if you invested $100k for 40 years of Democrat administrations you had $3.9M at the end)

Republican presidents added 2.5 times more to the national debt than Democratic presidents

The two times the economy steered into the ditch (Great Depression and Great Recession) were during Republican, laissez faire administrations

Why Are Republican Presidents So Bad for the Economy? G.D.P., jobs and other indicators have all risen faster under Democrats for nearly the past century. https://www.nytimes.com/2021/02/02/opinion/sunday/democrats-economy.html

U.S. Jobs, Income, GDP Growth 'Startlingly' Higher Under Democratic Presidents https://www.newsweek.com/us-jobs-income-gdp-growth-startlingly-higher-under-democratic-presidents-analysis-1566313

Over the last 6 decades--60 years or so, history has tended to favor Democratic presidents in terms of economic performance https://www.usnews.com/news/blogs/data-mine/2015/10/28/which-presidents-have-been-best-for-the-economy

During the final 3 years of Barack Obama's presidency 2014. 2015 . 2016 , the number of jobs added was 1.5 million greater than the number added during Trump's first 3 years in office 2017 2018 2019 https://www.snopes.com/fact-check/obama-created-more-jobs-trump

Trump inherited a booming economy — and handed Biden a nation 'in shambles' https://www.nbcnews.com/business/economy/trump-inherited-booming-economy-handed-biden-nation-shambles-n1255033

Trump to leave office with the worst jobs record since Herbert Hoover https://finance.yahoo.com/news/trump-leave-office-worst-jobs-030044152.html

Trump will be first president since WWII to lose jobs during tenure. The U.S. lost 140,000 jobs in December 2020 in the final jobs report of Trump’s presidency. This means the nation has about 3 million fewer jobs than it did 4 years ago UNDER THE BLACK GUY --OBAMA, meaning Trump will be the first president to lose jobs over his term since employment data was collected in this way. NBC News Now correspondent Simone Boyce explains how it all unfolded.

https://www.nbcnews.com/now/video/trump-will-be-first-president-since-wwii-to-lose-jobs-during-tenure-


U.S. manufacturers blame Trump-era tariffs for inflation’s rise https://www.marketwatch.com/story/u-s-manufacturers-blame-trump-era-tariffs-for-inflations-rise-11622387247