Ford CEO Jim Farley did not mince words with Wall Street on Tuesday, describing the impact from a lasting 25% tariff as being "devastating."

Ford Chief Executive Jim Farley said the threat of tariffs and other policy changes emanating from Washington, D.C., have resulted in chaos for the auto industry. While the Trump administration’s bid to spark more domestic manufacturing holds promise,

President Trump, soon after unveiling new levies on steel and aluminum, said he will be "looking at" potential tariffs on the auto sector.

President Donald Trump’s tariffs, implemented or just threatened, are causing “chaos” for the U.S. automotive industry, according to Ford Motor CEO Jim Farley.

Jim Farley will travel to Washington on Wednesday to warn the Congress members that the 25% tariffs on Canada and Mexico would “blow a hole” in the US auto industry

While speaking on Ford’s fourth-quarter earnings call, Farley noted that brands like Toyota and Hyundai can import hundreds of thousands of vehicles from Japan and South Korea without any new tariffs. According to Farley, “we can’t just cherry-pick one place or the other because this is a bonanza for our import competitors.”

President Trump's newest round of tariffs is already upending the automotive industry, according to the CEO of Ford Motor Company. Trump signed an executive order on Monday that puts a 25% tariff on all foreign steel and aluminum imports.

Jim Farley, has said that U.S. President Trumps tariffs have added “a lot of cost and a lot of chaos,” although he said that he believes the president’s aim is to strengthen the American auto industry overall.