US President Donald Trump this week imposed tariffs on almost every one of the nation’s trade partners, impacting nearly every industry.
That includes the automotive sector, which has complex global supply chains to keep production going.
Speaking to media in Australia, Bill Ford – executive chairman of Ford – said his company has less reason to be concerned about the tariffs compared to its competition.
“First of all, we have the largest American footprint of any OEM, and that puts us in pretty good shape relative to many others,” Mr Ford said at the unveiling of the Ranger Super Duty.
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“We’ve been around 122 years, and in 122 years, around the world we’ve gone through every kind of political regime, every kind of economic turmoil – depressions and recessions – and we always come out of it in great shape.
“I’ve been through nine major crises in my career, and each time it felt like it was existential, and each time we emerged from it, carried on and go to new heights.
“This will take some adjusting to for sure. The fact we have the largest American footprint, we employ the most Americans and we make the most vehicles in America puts us in pretty good shape.
“But we’re still working through all the implications of this because as you can imagine, this has tails well into our supply chain all around the world. There’s still a TBD for us on some of the finer points.
“We’re going to work very closely with the administration. The good news is we have a large voice in America and in American industry, the administration listens to us, and we’ll work with them as this gets clarified.
When asked whether the tariffs would have any ramifications, Mr Ford said it was “too early to tell”.
“We just have to continue to step back and take a deep breath and realise that the footprint we have around the world is a huge advantage for us, and I don’t think this changes anything.
“I love our position as a company, both geographically and product wise, and powertrain wise, with tremendous choice for our customers.”
While Ford produces many vehicles in the US, it also imports numerous vehicles for its home market. These include the Bronco Sport, Maverick and Mustang Mach-E from Mexico, as well as the Lincoln Nautilus from China.
25 per cent tariffs apply to vehicles imported to the US from April 3 with tariffs on components applying from May 3, except those from Canada and Mexico that comply with the free-trade rules of the United States-Mexico-Canada Agreement (USMCA).
Chinese imports face an additional 34 per cent tariff on top of the existing 20 per cent duty.
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