Ford Motor CEO Jim Farley said U.S. President Donald Trump's proposed and implemented tariffs have added "a lot of cost and a lot of chaos," although Farley said he believes the president aims to strengthen the American auto industry overall.

Ford CEO Jim Farley did not mince words with Wall Street on Tuesday, describing the impact from a lasting 25% tariff as being "devastating."

A 25% tariff on Mexico and Canada would 'blow a hole in the US auto industry,' Jim Farley says, while giving South Korean, Japanese, and European countries an easy leg up.

President Trump, soon after unveiling new levies on steel and aluminum, said he will be "looking at" potential tariffs on the auto sector.

Ford Chief Executive Jim Farley said the threat of tariffs and other policy changes emanating from Washington, D.C., have resulted in chaos for the auto industry. While the Trump administration’s bid to spark more domestic manufacturing holds promise,

During the election, Trump promised to enact heavy tariffs on a wide range of imports from countries across the globe. Among those particularly targeted were Canada and Mexico. The two countries share borders with the US and,