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The recent implementation of a 25% tariff on vehicles made in Mexico and Canada has stirred considerable concern among U.S. automotive manufacturers. Ford's CEO, Jim Farley, described these tariffs as potentially catastrophic for the U.S. auto industry, especially given that it may lead to a significant advantage for foreign manufacturers, particularly those from South Korea, Japan, and Europe. Farley highlighted that these companies could benefit immensely as their vehicles would not be subject to the new tariffs.