Wednesday, November 16, 2016

Ford CEO Warns of 'Huge Impact' to Economy from Trump Trade Plans

Ford CEO Mark Fields warned that President-elect Donald Trump's proposed trade plans — which include a 35 percent tariff on motor vehicles imported from Mexico — would have a "huge impact" on the entire American economy, not just the auto industry.

Though Fields said Ford has "had conversations with the transition team" for the incoming president, his comments, made during a keynote speech marking the opening of the 2016 Los Angeles Auto Show, could escalate a sometimes sharp dispute that began early during the election campaign. It was touched off by Ford's announcement it would shift small car production from U.S. plants to a new factory in Mexico.

"We've got to keep (factories) here. It's not that hard to do," then-candidate Trump said during one campaign interview, adding that if Ford and other makers continued to expand in Mexico, "pretty soon all we're going to have is nursing home jobs." 

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