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 Motor CEO Jim Farley said U.S. President Donald Trump's proposed and implemented tariffs have added "a lot of cost and a lot of chaos," although Farley said he believes the president aims to strengthen the American auto industry overall.

Now, just weeks into Trump’s second presidency, the leader of an iconic Detroit carmaker is warning that Trump policies could slam the industry, leading to layoffs and broader economic damage. During a Tuesday appearance in New York City,