[Stay on top of transportation news: .]
Ford CEO Farley Says Chinese Cars in US Would Be Devastating
Farley Tells Fox News That Allowing Imports Would Threaten American Manufacturing
Ford Motor Co.’s top executive says allowing Chinese automakers to sell their cars in the U.S. would be “devastating” to American manufacturing.
“We should not let them into our country,” CEO Jim Farley said April 13 during anappearanceon Fox News' "Fox & Friends"show. “Manufacturing is the heart and soul of our country, and for us to lose that to those exports would be devastating to our country.”
The U.S. currently has 100% tariffs on Chinese-made electric vehicles, which has effectively shut out automakers such as BYD Co. and Xiaomi Corp. But China’s low-cost,high-techcars are taking off in the rest of the world. That includes Mexico, where BYD alone accounts forseven out of 10electric and plug-in hybrid vehicles sold there, and Canada, which recently inked a deal with China toimport 49,000 carsa year.
“I sure hope we don’t allow them to come across the border,” Farley said of Canada’s Chinese cars. Keeping these vehicles out of America should have a “big impact” on upcoming negotiations to rework the trade deal between the U.S., Canada and Mexico, he added.
The comments are some of Farley’s toughest yet about the threat posed by Chinese automakers. The Ford leader contends the “huge direct support” Chinese carmakers receive from their government gives them an unfairadvantageto slash prices and decimate domestic automakers in the U.S. “There is no way this is a fair fight,” he said on Fox.
Farley also warned of national security risks from allowing technology-laden Chinese vehicles to navigate U.S. roads.
“All of these vehicles have 10 cameras,” Farley said. “They can collect a lot of data.”
President Donald Trump in January told the Detroit Economic Club he was willing to “let China come in” as long as they built factories and hired American workers. Farley later told administration officials that Chinese carmakers should have to formjoint ventureswhere U.S. automakers hold controlling stakes in order to build cars in America, Bloomberg has reported.
Trump next month is traveling to Beijing for a closely watchedsummitwith Chinese leader Xi Jinping.
