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Likely to benefit from Trump’s policies: Ford Motor

IANS | Washington |

Ford Motor Company has expressed optimism about new US President Donald Trump and his policies, saying it could be one of the main beneficiaries of possible tariffs on imports from Mexico.

In a teleconference with financial analysts and members of the media on Thursday, the chief executive officer of the US automaker, Mark Fields, said Donald Trump's first steps since taking office had been very positive, Efe news reported.

"He's focused on driving policy that drives investment and job creation in manufacturing and automotive manufacturing," said Fields, who has been invited by Trump to two working breakfasts at the White House since the new US President took office on January 20.

Referring to potential tax reform and tariffs that could have implications for US companies with manufacturing operations overseas, Fields pointed out that Ford made more vehicles in the US than any other automaker and was not a major auto producer in Mexico.

Bob Shanks, Ford's chief financial officer, added that the company was assessing various tax policy scenarios and looking at tariffs Trump might impose on imports from Mexico.

He said Ford was already in a strong position in terms of imports and exports of vehicles and parts and that plans for lower taxes and other measures being considered by the Trump administration made the outlook even more positive.

Fields, for his part, added that he wanted to be at the table when decisions are made about trade, tax and regulatory policy and that he hoped Ford would be seen by the administration as a "trusted source" of information.

The US automaker, which recently scrapped plans for a new $1.6 billion assembly plant in Mexico, reported that it took a $200 million charge in the fourth quarter due to the cancellation.