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Ford Donates $1M To Trump Inauguration Amid Policy Uncertainty On EVs And Tariffs

Ford CEO Jim Farley. Photo credit: Mark Humphrey/Associated Press
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Ford Motor Co. announced a $1 million donation and the provision of a fleet of vehicles to support U.S. President-elect Donald Trump’s January inauguration, a company spokesperson confirmed on Monday (December 23).

The incoming administration’s potential policies on tariffs and electric vehicles are likely to impact Detroit automakers like Ford, which face challenges in scaling production and sales of their battery-powered models.

Trump has proposed substantial tariffs on imports from China, Mexico and Canada, along with the elimination of an EV tax credit that benefits automakers like Ford.

Despite these concerns, Ford CEO Jim Farley expressed optimism stating that he believes Trump would be willing to consider the company’s views on these policy measures.

″(Given) Ford’s employment profile and importance in the U.S. economy and manufacturing, you can imagine the administration will be very interested in Ford’s point of view,” Farley said, according to Reuters.

What is an Inaugural Fund?

An inaugural fund is established to finance the inauguration of a new president and related events. The Presidential Transition Enhancement Act, signed into law by Donald Trump in 2020, mandates that presidential candidates “create and release an ethics plan for their transition team prior to the election,” as noted by the nonpartisan Center for Presidential Transition. This law outlines the procedures for the transition period between Election Day and Inauguration Day.

During his first term’s festivities, Trump had raised a record $106.7 million for his 2017 festivities.

Ford Joins List Of Other Large Companies

Amazon, Meta, and OpenAI CEO Sam Altman have recently contributed significant donations to the presidential inaugural fund. According to the Wall Street Journal, both OpenAI and Amazon plan to donate $1 million each. Jeff Bezos is also scheduled to meet with Trump at Mar-a-Lago next week. Additionally, Meta confirmed its $1 million contribution to Trump’s inauguration committee, following reports earlier this week.

Apart from the tech giants, Uber and its CEO have also donated $1 million to the inauguration fund.