As negotiations for the USMCA trade deal resume, Ford's CEO Jim Farley has articulated a strong stance for domestic automakers. He argues that companies like Ford, which produce the majority of their vehicles in the U.S., should be favored in the agreement, while competitors such as General Motors and Toyota, who import a significant portion of their sales, should face stricter penalties.
Farley highlighted that GM imported 1.17 million vehicles, accounting for 41% of its U.S. sales, and Toyota imported over 1.19 million units, or 47% of its domestic sales. In contrast, Ford assembled over 2 million vehicles in the U.S. last year, with only 17% of its sales being imports.
The reopening of the USMCA talks comes amid concerns that changes could lead to trade uncertainty, potentially affecting investments and jobs in the auto sector, which represents about 18% of U.S. trade with Canada and Mexico. A coalition of U.S. trade groups has expressed support for maintaining the current trilateral agreement to ensure stability and predictability in the industry