Dean Terence Lau L’98 recently spoke with the media on the impact of rapidly changing tariff policies on the automotive industry.
Lau, a former trade expert for Ford, noted that automakers are looking for a consistent policy, which is not what they have witnessed in recent weeks as tariffs on Canada and Mexico were switched on and off, and as Trump continues to threaten higher tariffs on others.
“It’s impossible to keep up with day-to-day or week-to-week changes,” he said. “The auto industry makes plans months in advance, if not years. So it’s just impossible to plan.”
But he said the Detroit Three are sure to keep up their behind-the-scenes lobbying efforts in coming weeks and will continue to seek a “partnership with the administration” where both sides can come away with something from the tariffs, and tariff threats.
“I mean, there is a shared goal here, which is American competitiveness and profitability of American car companies,” Lau said. “That is a shared goal. Well, how do you reach that without creating what Farley calls a giant hole in the U.S. auto industry?”
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