New York, Jan 14, 2026, 09:36 EST — Regular session
- Ford shares dip in early trading after executives highlight ongoing trade-policy uncertainty in North America
- The U.S.-Mexico-Canada trade pact, USMCA, is up for its required review this year
- Investors are digesting new U.S. consumer data while gearing up for Ford’s earnings report on Feb. 10
Ford Motor shares slipped Wednesday after CEO Jim Farley emphasized the United States-Mexico-Canada Agreement (USMCA) as “very critical” for the company, responding to recent doubts raised by U.S. President Donald Trump. Last year, Trump slapped 25% tariffs on vehicles imported from Canada and Mexico but allowed certain exceptions that softened the impact, Reuters reported. Bill Ford, the company’s executive chair, described the situation as “regulatory whiplash,” while Farley flagged concerns about affordability and demand looking ahead to 2026. 1
The timing is crucial since Ford and other Detroit automakers operate supply chains spanning all three countries. The trade deal’s six-year review clause means it’ll come up again in 2026. Trump dismissed USMCA as “irrelevant” and pushed for manufacturing to return to the U.S., but the American Automotive Policy Council argues the pact’s regional integration saves “tens of billions of dollars” annually. GM President Mark Reuss described the North American supply chain as “very complex” and “a big strength.” 2
Ford shares slipped roughly 0.3% to $13.98 in early New York trading. Traders noted that policy news tends to hit the sector hard, with tariffs and rules of origin directly affecting costs, pricing, and production choices.
Demand signals are surfacing. U.S. retail sales climbed 0.6% in November, driven by a rebound in motor vehicle buying, according to a government report. Still, Bank of America Securities noted the gap in spending growth between higher- and lower-income groups stayed “substantial and persistent.” 3
Ford has pushed to keep investors focused on execution and product mix, but policy risks remain a sticking point. In its Dec. 15 strategy update, the company flagged around $19.5 billion in special items linked to shifting its EV-related assets and roadmap. Ford also confirmed it will report fourth-quarter and full-year 2025 results on Feb. 10. 4
The USMCA’s inaugural joint review is scheduled for July 1, 2026, per Article 34.7 of the agreement, a Congressional Research Service brief notes. The parties must convene on the pact’s sixth anniversary. 5
Ford faces a risk if trade talks get complicated or stall, forcing suppliers and planners to speculate on tariff impacts and compliance expenses. Uncertainty alone can stall investment choices, even if no new tariffs appear. But if duties do hit, sticker prices might climb in a market Ford’s executives already describe as tight on affordability.
Investors are eyeing Washington for clear updates on the breadth and schedule of the USMCA negotiations. Attention also turns to Ford’s February 10 earnings and guidance, which will shed light on how the automaker is handling costs and demand heading into 2026. 6
