After the closure of the US stock trading sessions, the company's share was deemed to fall about 2.3 per cent in the after-hours trading session. In addition to this, the imposed tariff by Trump is determined to increase the overall cost for the year by more than USD 2.5 billion. The majority of the cost would be incurred while importing the automobiles from countries like China and Mexico. As of now, the company has stopped its exports to China, except for importing vehicles like the Lincoln Nautilus.
Ford has reported numerous strategies and actions, and the company has been able to make about USD 1 billion. One of the key strategies behind it was to discontinue transporting vehicles from Mexico to Canada by using bonded carriers, eliminating the need to incur tariffs.
Reality is far from strategy: Ford's take on Trump's tariff 3 months ago
As expressed by the CEO of Ford, the imposed tariffs would ease the impact on the automakers, suppliers and consumers. However, he also states that it is crucial to work closely with the administration for the imposed tariffs for the envisioned growth within the industry.
Moreover, he also marks the tariffs to be "essential" to encourage higher export rates for the US. Not only this, he further adds that this shall create domestic job opportunities and incur affordable parts, ensuring the effective promotion of domestic growth and affordable vehicles within the country.
