US carmakers face possible tariffs: Ford believes it is best prepared

Major US automakers such as Ford and General Motors may face possible tariffs on imports from Mexico and Canada this weekend. President Donald Trump on Thursday confirmed his plans to impose a 25 percent tariff on cars made outside the U.S., which could greatly affect the entire auto industry.

Ford $FCEO Jim Farley sees the possible imposition of tariffs as an important political issue. According to Farley, Ford has a clear plan and is well prepared to handle the situation.

"We think this issue will be addressed over the next few months," Farley said at a Ford Performance event in Charlotte.

Farley said Ford is in a better position than its competitors because it has the largest manufacturing base in the U.S.

"Ford has the largest manufacturing infrastructure in the U.S., and we are encouraged by the administration's positive approach to the auto industry and its impact on the economy," Farley added.

Although Ford employs the largest number of United Auto Workers (UAW) union members, it…