Now, just weeks into Trump’s second presidency, the leader of an iconic Detroit carmaker is warning that Trump policies could slam the industry, leading to layoffs and broader economic damage. During a Tuesday appearance in New York City,

The Inflation Reduction Act production credits represent major savings for automakers and are key to Ford’s plans to offer low-cost EVs.

But at least one major American executive is starting to crack under the pressure of the Trump tariff regimen: Ford CEO Jim Farley is ringing the alarm bells for the American automakers, warning that the impending penalties on imports are going to put a hard squeeze on the industry.