But he singled out other automakers who import cars from outside America and pay no tariffs imposed whatsoever, claiming the current tariff scheme targeting select countries isn't

While speaking on Ford’s fourth-quarter earnings call, Farley noted that brands like Toyota and Hyundai can import hundreds of thousands of vehicles from Japan and South Korea without any new tariffs. According to Farley, “we can’t just cherry-pick one place or the other because this is a bonanza for our import competitors.”

President Donald Trump agreed to a 30-day pause on 25% tariffs on Canada and Mexico on Monday, while a 10% tariff on China kicked in on Tuesday. The tariffs could inject chaos into auto supply chains, experts say. The auto industry accounts for 26% of imports from Mexico to the US, and 12% from Canada, UBS researchers estimated.

"Customers have shown that they will not pay any premium for these large EVs," Farley said in an earnings call.

Ford Motor Co (NYSE: F) chief executive Jim Farley is concerned that President Trump’s planned tariffs could do more harm than good to the US automotive industry. Raising tariffs against China, Mexico,