Ford Motor Co. CEO Jim Farley said US President Donald Trump’s duties will have a devastating effect on the US auto industry.
‘Let’s be honest: in the long term, a 25 per cent duty on the borders with Mexico and Canada will punch a hole in the US industry like we’ve never seen before,’ TASS quoted him as saying.
Earlier, Trump imposed duties of 25% on steel and aluminium supplies to the US.
Meanwhile, the EU promised tough measures in response to the US duties.
