Ford CEO hopes for balance, stability on U.S. tariffs
In this Monday, May 22, 2017, file photo, Ford Motor Co. CEO Jim Hackett speaks after being introduced as the automaker's new chief executive in Dearborn, Mich. (AP Photo/Paul Sancya, File)
The Associated Press
Published Tuesday, April 9, 2019 1:25PM EDT
DETROIT -- Ford CEO Jim Hackett is hoping for balance and stability in what is now an unstable tariff environment.
Hackett says businesses want equilibrium on tariffs, and U.S. President Donald Trump is working hard on that as his administration negotiates trade deals. Trump has threatened to slap tariffs on imported autos, singling out China, Europe and recently Mexico.
The Ford CEO told the Detroit Economic Club Tuesday that trade with the U.S. is one-sided and needs to be modernized. He expects to see the matter resolved this year.
Hackett also says Ford will be ready for the next recession as it restructures to make its business more fit. The company is currently shifting away from sedans in the U.S. and cutting thousands of white-collar jobs.