Ford's CEO tells it straight to you, predicting significant price hikes and severe shortages are on the horizon.
"We can't get a lot of parts, like fasteners, washers, carpets, wiring harnesses and more. We can't even get these parts here," said Jim Farley, CEO of Ford Motor Company, in an interview this week with CNN.
Automakers and suppliers say it will take years to move assembly lines elsewhere. And due to uncertainty over trade policy direction, they are unlikely to invest billions of dollars in domestic manufacturing.
Mr. Trump has repeatedly changed his mind on the scale of tariffs and how they should be levied. On Tuesday, he modified some rules to allow automakers to avoid paying tariffs on some imported parts for two years. These measures provide some relief for the auto industry, but analysts say car prices will still rise by thousands of dollars.
Original Source: https://www.toutiao.com/article/1831147782936971/
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