The Sun - Ford's CEO has revealed that the brand was forced to shut down some factories thanks to an industry-wide issue plaguing automakers. Jim Farley opened up about the "day-to-day" struggle that has sometimes made car production impossible.
The 63-year-old CEO made the admission on Friday, when he spoke about supply chain issues stemming from America's tense trade relations with China.
Ford and other US auto brands are heavily reliant on the rival nation to get rare earth minerals, which are essential to car production.
American companies get about 90% of their rare earth supplies from China to build features like windshield wipers, seat belts, and speakers, CBS News reported.
So when President Donald Trump sparked a tit-for-tat trade war with the country that resulted in China implementing a 125% revenge tariff, automakers were left worried about the future.
Now, Farley has revealed that the trade issue has had devastating effects on the iconic American brand.
"It's day to day," Farley told Bloomberg TV.
"We have had to shut down factories. It's hand-to-mouth right now."
Farley didn't clarify which factories were closed or for how long.
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