Tag: bringing

Ford CEO says tariffs bringing ‘a lot of cost and a lot of chaos’

The Lonski Group President John Lonski breaks down President Donald Trump’s economic agenda during an appearance on ‘Varney & Co.’

Ford CEO Jim Farley said Tuesday that President Donald Trump’s tariff push has so far brought “a lot of cost and a lot of chaos” to the auto industry despite the president’s aims to help the industry.

“President Trump has talked a lot about making our U.S. auto industry stronger, bringing more production here, more innovation to the U.S., and if this administration can achieve that, it would be one of the most signature accomplishments,” Farley said at an analyst conference in Detroit.

“So far, what we’re seeing is a lot of cost and a lot of chaos,” he added.

Farley also said that if Trump’s 25% tariffs on Mexico and Canada are implemented and remain in effect for the long term, it would “blow a hole” in the U.S. auto industry, with rivals from Asia and Europe poised to benefit.

FORD EXPECTING MOUNTING EV LOSSES THIS YEAR

Ford CEO Jim Farley warned that tariffs on Mexico and Canada would “blow a hole” in the U.S. auto industry over the long term. (Emily Elconin/Bloomberg via Getty Images / Getty Images)

“Let’s be real honest: Long term, a 25% tariff across Mexico and Canada borders would blow a hole in the U.S. industry that we have never seen,” Farley said. “Frankly, it gives free rein to South Korean, Japanese and European companies that are bringing 1.5 million to 2 million vehicles into the U.S. that wouldn’t be subject to those Mexican and Canadian tariffs. It would be one of the biggest windfalls for those companies ever.”

“Meanwhile, we’re USMCA-compliant with almost all of our content, finished vehicles and components going across the borders. To have the kind of a size of tariff would be devastating,” Farley said.

Ticker	Security	Last	Change	Change %
F	FORD MOTOR CO.	9.21	-0.03	-0.32%
GM	GENERAL MOTORS CO.	46.70	+0.13	+0.28%
STLA	STELLANTIS NV	13.09	+0.12	+0.93%

FORD EXECUTIVE BELIEVES TRUMP AND MUSK WANT TO ‘STRENGTHEN’ THE AMERICAN AUTO INDUSTRY

Ford CEO Jim Farley warned that foreign automakers would benefit if Trump’s 25% tariffs on Mexico and Canada are implemented. (Photographer: Emily Elconin/Bloomberg via Getty Images / Getty Images)

The Dearborn, Michigan-based automaker is less exposed to fallout from tariffs on Canada and Mexico than its crosstown rival General Motors or Stellantis, the parent company of brands such as Jeep and Dodge, analysts said.

That’s because more of Ford’s manufacturing base is located within the U.S. and the vehicles that it does import from outside the country tend to be less profit-rich than the products its rivals import.

FORD MUSTANG MACH-E SALES SURPASS TRADITIONAL MUSTANG

Ford execs said the company sources much of its steel and aluminum domestically, so those pending tariffs wouldn’t be as harmful to its operations. (Jeff Kowalsky / Getty Images)

Ford is considering areas in which it can build up inventory to prepare for potential 25% tariffs on Mexico and Canada, executives said Tuesday.

Those tariffs were planned to take effect in early February, but Trump delayed them until at least March after Canada and Mexico announced border security measures.

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Trump’s announcement of tariffs on steel and aluminum that are scheduled to take effect next month was discussed with Ford executives noting the company gets 90% of its steel from the U.S. and about 10% from Canada, while the company’s aluminum is also primarily sourced domestically.

Reuters contributed to this report.

February 11, 2025

Meta employees ‘protest’ removal of tampons from men’s rooms by bringing their own: ‘Subtle resistance’

New York Post columnist Miranda Devine discusses Mark Zuckerberg’s policy changes at Meta, the SEC’s lawsuit against Elon Musk and special counsel Jack Smith’s report on Trump’s election case.

After Meta removed tampons from men’s bathrooms in company office buildings earlier this month, some employees started coordinating “quiet rebellions” by bringing in their own, according to a new report.

In early January, CEO Mark Zuckerberg overhauled a variety of Meta’s internal and external policies, ranging from lifting restrictions on speech to “restore free expression” across his platforms to changing its “Hateful Conduct” policy to allow criticism of gender identity.

One internal move that irked woke Meta employees was the removal of women’s sanitary products from men’s bathrooms, which the company had previously provided for nonbinary and transgender employees.

META ENDS CORPORATE DEI PROGRAMS

Amid a company-wide shift away from far-left social agendas, Meta management were reportedly ordered to remove tampons from men’s bathrooms. (Zuckerberg photo by David Paul Morris/Bloomberg via Getty Images | Tampons photo by Martin Schutt/picture alliance via Getty Images)

According to The New York Times Wednesday, “To protest Mr. Zuckerberg’s actions, some Meta workers soon brought their own tampons, pads and liners to the men’s bathrooms, five people with knowledge of the effort said. A group of employees also circulated a petition to save the tampons.”

The vice president of workplace services reportedly emailed the petition signatories directly, suggesting that while it had “not been the intention of Meta leadership to make employees feel unwelcome or excluded in our offices, at this point we do not have plans to revisit our on-site amenities offerings.” The email, however, did promise to “share your feedback with leadership.”

“The sanitary products were emblematic of the quiet rebellions that Silicon Valley workers have staged as they grapple with the rightward shift of their bosses,” The Times reported, describing the tech giants’ embrace of Trump and attendance of his inauguration as “a major departure for a tech industry that has typically leaned left and liberal.”

But while company leadership is normalizing relations with the president in the public eye, employees, according to the Times, are engaged in “subtle acts of defiance.”

“The quiet dissent underlines who wields the power in Silicon Valley these days: the bosses,” The Times observed, noting that this “subtle resistance” is a stark contrast to tech employees’ more public protests during the first Trump administration.

INTERNET ROASTS NYT HEADLINE ABOUT FACT-CHECKERS RULING META CRITICISM OF FACT CHECKS ‘FALSE:’ ‘BEYOND PARODY’

Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk attend the Inauguration of Donald J. Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC. Donald Trump takes office for his second term as t (Julia Demaree Nikhinson – Pool/Getty Images / Getty Images)

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The Times claimed that according to an internal poll, one question that Meta employees wanted to ask of Zuckerberg at an upcoming company Q&A was how women at Meta could provide “masculine energy” to the office.

During an interview with Joe Rogan on Jan. 10, Zuckerberg had argued that “masculine energy” is a positive force.

The Times reported the company changed how employees could participate and “said it would ‘skip questions that we expect might be unproductive if they leak.’”

January 30, 2025
Trump proposes abolishment of federal income tax, bringing US back to ‘richest period’ in history

‘The Big Money Show’ discusses President Donald Trump’s ‘aggressive’ economic agenda.

Pitching a monumental and potentially controversial proposal to his Republican allies, President Donald Trump is seemingly floating the idea of scrapping federal income taxes altogether.

“We had no income tax. The income tax came in…1913. As I said in my speech last week, instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens,” Trump said during his conference address in Doral, Florida, on Monday.

“It’s time for the United States to return to the system that made us richer and more powerful than ever before,” he added. “You know, the United States in 1870 to 1913, all tariffs. And that was the richest period in the history of the United States, relatively speaking.”

The first federal income tax was passed on February 25, 1913, as part of the 16th Amendment. This gave Congress constitutional authority to levy taxes on corporate and individual income, according to the Internal Revenue Service (IRS).

WHITE HOUSE ECONOMIST TEASES THE ‘BIGGEST’ FISCAL REFORM ‘AMERICAN HAS EVER SEEN’

U.S. Treasury data indicates that $4.92 trillion was collected in federal income taxes for the 2023 filing year. But as Trump plans to create a new “External Revenue Service” that would be tasked with collecting revenue from tariffs, economists and market experts seem mixed, with some pushing back and noting that U.S. importers bear the brunt of the cost of tariffs rather than firms overseas.

President Donald Trump pitched the idea to eliminate federal income tax during his address at a GOP conference in Doral, Florida, on Monday. (Getty Images)

“Tariffs are not external revenue; they are taxes on U.S. importers that shrink both the U.S. economy and U.S. incomes. Higher tariffs will create a drag on the U.S. economy and will threaten to offset the benefits of tax cuts elsewhere. They should not be relied upon as a major source of tax revenue,” Tax Foundation Vice President Erica York previously told FOX Business.

“Markets like certainty. So if you tell me, ‘10% tariff,’ if I’m a company like GM, I can handle that,” Taylor Riggs, “The Big Money Show” co-host, pointed out on Tuesday. “If you tell me that every month it’s going up by 2.5%, I have a hard time planning around that, because how do I figure out: do I buy the goods now? What if the tariffs go up? Is it a negotiating tool?”

“This whole idea about eliminating the income tax, or redefining it and coming in with a 10% tariff tax and giving an income tax break to Americans, encourages them to work more, in my opinion, encourages them to spend more, in my opinion,” Slatestone Wealth chief market strategist Kenny Polcari also chimed in.

Trump senior advisor for trade and manufacturing Peter Navarro discusses the battle over TikTok and bringing ‘prosperity’ to the United States on ‘The Claman Countdown.’

“So then you end up having a stronger and better economy,” Polcari continued. “I think the market likes it.”

During his successful campaign to return to the White House, Trump touted plans to impose an across-the-board tariff of 10% or 20% – as well as a larger tariff of 60% on goods imported from China.

He also threatened to impose a 25% tariff on goods from Canada and Mexico, which are both parties to the U.S.-Mexico-Canada Agreement (USMCA) – a free trade agreement Trump negotiated during his first term as a successor to the North American Free Trade Agreement (NAFTA).

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Walser Wealth Management President Rebecca Walser and Culture+Group CEO and co-founder Lili Gil Valletta discuss which world leaders will cave to President Trump’s tariff threats on ‘Making Money.’

More recently, President Trump also teased moving nearly 90,000 IRS agents hired under the Biden administration to the border to patrol the area.

Democrats in 2022 approved $80 billion in funding for the IRS, including hiring roughly 87,000 new agents across a 10-year period as part of the Inflation Reduction Act. President Joe Biden signed the legislation into law that year.

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FOX Business’ Eric Revell and Fox News’ Emma Colton contributed to this report.

January 29, 2025

Tag: bringing

Ford CEO says tariffs bringing ‘a lot of cost and a lot of chaos’

Meta employees ‘protest’ removal of tampons from men’s rooms by bringing their own: ‘Subtle resistance’

Trump proposes abolishment of federal income tax, bringing US back to ‘richest period’ in history