New York CNN —
There is nowhere to hide in the auto industry from President Donald Trump’s auto tariffs, according to former Ford CEO Mark Fields.
“The cost of vehicles will go up. It’s just math. The bottom line is there is absolutely no vehicle that won’t be impacted by tariffs,” Fields told CNN in a phone interview.
Trump’s 25% tariff on imported cars kicked in on Thursday as part of the president’s bid to revive American manufacturing jobs. The administration plans to slap tariffs on car parts by May 3. Bank of America estimates
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