Ford CEO Farley Says Chinese Carmakers Should Be Kept Out of US

Article content(Bloomberg) — Ford Motor Co.’s top executive says allowing Chinese automakers to sell their cars in the US would be “devastating” to American manufacturing.Sign In or Create an AccountEmail AddressContinueor View more offersArticle content“We should not let them into our country,” Chief Executive Officer Jim Farley said Monday during an appearance on Fox News’ Fox & Friends show. “Manufacturing is the heart and soul of our country and for us to lose that to those exports would be devastating to our country.”Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentThe US currently has 100% tariffs on Chinese-made electric vehicles, which has effectively shut out automakers such as BYD Co. and Xiaomi Corp. But China’s low-cost, high-tech cars are taking off in the rest of the world. That includes Mexico, where BYD alone accounts for seven out of 10 electric and plug-in hybrid vehicles sold there, and Canada, which recently inked a deal with China to import 49,000 cars a year.Article contentArticle content“I sure hope we don’t allow them to come across the border,” Farley said of Canada’s Chinese cars. Keeping these vehicles out of America should have a “big impact” on upcoming negotiations to rework the trade deal between the US, Canada and Mexico, he added.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe comments are some of Farley’s toughest yet about the threat posed by Chinese automakers. The Ford leader contends the “huge direct support” Chinese carmakers receive from their government gives them an unfair advantage to slash prices and decimate domestic automakers in the US. “There is no way this is a fair fight,” he said on Fox.Article contentFarley also warned of national security risks from allowing technology-laden Chinese vehicles to navigate US roads.Article content“All of these vehicles have 10 cameras,” Farley said. “They can collect a lot of data.”Article contentPresident Donald Trump in January told the Detroit Economic Club he was willing to “let China come in” as long as they built factories and hired American workers. Farley subsequently told administration officials that Chinese carmakers should have to form joint ventures where US automakers hold controlling stakes in order to build cars in America, Bloomberg has reported.Article contentTrump next month is traveling to Beijing for a closely watched summit with Chinese leader Xi Jinping.Article contentTrending Posthaste: Canadian dollar is being dumped from FX reserves at a record pace. What's going on? News Why timing the bottom of Canada's roller-coaster real estate market may be harder than you think Real Estate Subscriber only. Why Chinese 'knock-down' car kits could spell catastrophe for Canadian automakers Subscriber only Electric Vehicles Dell, HP Inc. shares jump on Nvidia acquisition speculation report Information Technology Bank of Canada likely to stay put for now, says Paul Beaudry Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Canadian dollar is being dumped from FX reserves at a record pace. What's going on? News Why timing the bottom of Canada's roller-coaster real estate market may be harder than you think Real Estate Subscriber only. Why Chinese 'knock-down' car kits could spell catastrophe for Canadian automakers Subscriber only Electric Vehicles Dell, HP Inc. shares jump on Nvidia acquisition speculation report Information Technology Bank of Canada likely to stay put for now, says Paul Beaudry Economy