Now that Donald Trump has actually been voted into the White House, we’re seeing his “policies” – the ones that he failed to explain in detail during his entire presidential campaign – being torn apart by people who actually know what’s going on.
The latest to criticize Trump’s plans for the economy is Ford CEO Mark Fields, who recently warned Americans that Trump’s proposed trade plans are going to have a “huge impact” on the America’s economy – and not in a good way. Fields’ concern is specifically Trump’s 35% tariff on motor vehicles imported from Mexico, and the Fortune 500 CEO believes that this is so problematic, it’s going to do damage on far more than just the auto industry.
Fields revealed that Ford has been involved in “conversations with the transition team”, and there have been disagreements since Ford announced that it was going to move some production to a factory in Mexico against Trump’s advice. This was after Trump insisted, “We’ve got to keep (factories) here. It’s not that hard to do.” Trump also said that if Ford and other industries wanted to keep moving business to Mexico, “pretty soon all we’re going to have is nursing home jobs.”
Yet, Ford is staying firm. In a keynote speech, Fields warned that anti-trade moves are risky. While Fields said that “we look forward to working with a new administration and the entire newly elected Congress”, there was no mistaking that he disagrees with Trump when he said:
“A tariff like that (Trump has proposed) could have a huge impact on the U.S. economy.”
Fields said that free trade was a “must” and said that Ford, the second-largest automaker in the United States, doesn’t intend to halt its plans. Other automakers have also weighed in, some from other countries. Ralf Speth, CEO of British-based Jaguar Land Rover, echoed Fields’ concern when he said:
“I am sure free and fair trade is a better way for all of us.”
Featured image via Joe Raedle / Getty Images