By Christopher Otts

Ford Chief Executive Jim Farley said Wednesday that President Trump's tariff changes help but don't go far enough.

On Tuesday, President Trump announced changes to tariffs on auto parts that go into effect on May 3 that will allow companies to pay lower taxes on foreign-made components, if the vehicles were built in the U.S.

Farley said the changes ease the financial impact of the new taxes, but Ford would not rule out price increases. "I think we have to watch what our competitors do," Farley said.

Speaking at a Ford factory in Kentucky, Farley said the company wanted some additional relief from tariffs based on the fact it ships made-in-America vehicles around the world.

"So many of the vehicles we build here are exported around the globe," Farley told hundreds of line workers and engineers. "Shouldn't we get credit for that?" Farley said.

Ford is lobbying the Trump administration to allow companies that export U.S.-made vehicles to pay lower tariffs on imports.

The automaker assembles 80% of the vehicles it sells in the U.S. at domestic factories, meaning that the company is more insulated from tariffs than many of its competitors.

Farley said yesterday's changes would ease the financial impact of the tariffs, but that more needed to be done to boost the domestic auto manufacturing sector. The tariffs were causing supply chain disruptions, and some of Ford's suppliers are "under a lot of financial stress," Farley told reporters following his speech.

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April 30, 2025 17:30 ET (21:30 GMT)

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