Recently, Ford Motor Company’s $F CEO, Jim Farley, made a significant announcement regarding the automaker’s pricing strategy in response to the tariffs imposed by the U.S. government under President Donald Trump. He stated that Ford will not raise vehicle prices until it becomes clear how competing manufacturers respond to the increased costs driven by these tariffs.

Ford Motor Co. has decided to pay off a significant portion of the debt of its German subsidiary, Ford Werke, amid growing financial difficulties. The American automotive manufacturer plans to allocate up to €4.4 billion (approximately $4.8 billion) to reduce its debt, which stands at €5 billion, to a more manageable level.