Ford CEO Farley Calls for Higher Tariffs on Toyota, GM Imports as USMCA Talks Reopen

According to CNBC, Ford CEO Jim Farley called on Wednesday (July 2) for stricter penalties on automakers that heavily rely on imported vehicles during the reopening of USMCA trade negotiations. Farley told CNBC he wants domestic producers like Ford to gain advantages under the new deal, while competitors importing vehicles should face more penalties.

Ford imported 378,000 vehicles, or 17% of its 2.2 million sales last year, while General Motors imported 1.17 million units (41% of its U.S. sales) and Toyota imported over 1.19 million units (47% of its domestic sales), according to industry data.