The move to put 10% additional tariffs on imports from China will affect a small number of U.S. vehicles, but increased costs of auto parts could affect already heightened car prices. The biggest impact on vehicles will be on Ford Motor's Lincoln Nautilus and General Motors' Buick Envision.

Farley noted that, based on conversations with the Trump administration, Ford believes the federal government is committed to “strengthening, not weakening” the auto industry. He also praised the delay of the tariffs on Mexico and Canada, adding that Ford is monitoring the burgeoning trade war with China.