President Donald Trump gave auto makers a one-month tariff reprieve Wednesday—but that could just be delaying the inevitable.
Ford Motor Company was riding on a high moving into the 1970s. The Mustang had been the hit of the decade, becoming the best-selling automobile since the Ford Model A debuted. The GT40 program gave Henry Ford II the revenge that he wanted after Enzo Ferrari ended talks of selling his company to Ford
It comes as Barclays analysts warn that tariffs will wipe out all profits for Detroit’s Big Three if they don’t raise prices. The warning echoed the comments of Ford boss Jim Farley, who last month warned tariffs would see “billions of dollars of industry profits wiped out.”