Farley also defended Ford’s U.S. manufacturing footprint, pointing out that about 80% of Ford vehicles sold in the U.S. are made in the country. What’s more, all of Ford’s t

Ford Motor Co. warned that profit may fall by $2 billion or more this year due to lower vehicle prices and costly new-model launches, adding to risks posed by potential new tariffs under President Donald Trump and dimming demand for plug-in cars.

President Donald Trump’s proposed tariffs on Mexico and Canada could be devastating for the auto industry, according to Ford Motor Co.’s (F) CEO.

"There's no question that tariffs at 25% level from Canada, Mexico, if they're protracted, would have a huge impact on our industry, with billions of dollars of industry profits wiped out and adverse effect on the US jobs as well as the entire value system in our industry.