Ford Says Mexico Tariff Would Have ‘Significant’ Negative Impact
- Automaker’s president hopeful that a resolution will be found
- Hinrichs encouraged by state of talks between U.S., Mexico
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Ford Motor Co. would feel a serious impact if tariffs are levied on the cars, engines and transmissions it imports from Mexico, but a top executive at the automaker expressed optimism the trade dispute can be resolved without lingering damage.
“If we were to see 5% and then rising tariffs on auto parts and vehicles from Mexico, it would have a significant impact on the industry, ourselves included,” Joe Hinrichs, Ford’s president, said at the UBS Industrials and Transportation Conference in New York on Thursday. “The core issue is not a trade issue, it’s illegal immigration or immigration in general. But trade and tariffs get caught up in this topic, which makes it a little more complicated.”