Ford Donates to Trump's Inauguration

By Nora Eckert and David Shepardson
DETROIT (Reuters)
Ford Motor Co (NYSE:F) is donating $1 million and a fleet of vehicles to U.S. President-elect Donald Trump's January inauguration, according to a company spokesperson on Monday.

Policies regarding tariffs and electric vehicles under the new administration may impact Detroit carmakers like Ford, who are struggling to manufacture and market their battery-powered models.

Republican Trump has proposed imposing significant tariffs on imports from Mexico and Canada and eliminating an EV tax credit that benefits Ford.

Ford CEO Jim Farley expressed optimism that Trump would be receptive to the U.S. automaker's concerns regarding these policies. He stated, "(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."

Other major companies, such as Amazon (NASDAQ:AMZN) and Meta Platforms (NASDAQ:META), have also contributed to the inauguration event.

Trump previously raised a record $106.7 million for his 2017 inauguration. In comparison, Democratic President Joe Biden raised $61.8 million for his 2021 inauguration, with backing from companies like Pfizer (NYSE:PFE), AT&T (NYSE:T), and Boeing (NYSE:BA).