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CEO Warns: A Trump Tariff on Mexico-Made Fords Not Smart

CEO Warns: A Trump Tariff on Mexico-Made Fords Not Smart

Donald Trump (AP Photo/Evan Vucci) 

By    |   Tuesday, 15 November 2016 03:45 PM

Ford CEO Mark Fields warned President-elect Donald Trump's plan to impose a hefty tariff on vehicles from Mexico would have a "huge impact" on the United States economy as a whole.

According to the Detroit Free Press, Fields spoke at the Los Angeles Auto Show and said Trump's idea about penalizing U.S. companies who build product in foreign countries does not make sense in the larger picture.

"A tariff like that would be imposed on the entire auto sector, and that could have a huge impact on the U.S. economy," Fields said.

Ford makes two of its models in Mexico, the Focus and C-Max Hybrids, the Free Press reported.

The company sent a letter to Trump after he won the presidential election last week.

"We have had conversations with the transition team," Fields said. "I've sent a congratulatory letter to the president-elect, and we look forward to working with a new administration and the entire newly elected Congress."

Trump has been highly critical of U.S.-based companies who build products in other countries, saying the practice takes jobs away from Americans. The real estate mogul did say, however, the U.S. tax structure makes it difficult for some companies to operate U.S. factories.

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Ford CEO Mark Fields warned President-elect Donald Trump's plan to impose a hefty tariff on vehicles from Mexico would have a "huge impact" on the United States economy as a whole.
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Tuesday, 15 November 2016 03:45 PM
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