Ford Motor CEO said that the president’s plan to impose a 25% tariff on steel and aluminum is already adding a lot of cost’ and ‘chaos’ to the industry|Nicole Yeary|CC BY 2.0

Jim Farley said President Donald Trump’s plan to execute a 25% tariff on Canada and Mexico could “blow a hole” in the domestic auto industry.

The Ford Motor CEO further said that the president’s plan to impose a 25% tariff on steel and aluminum is already adding “a lot of cost” and “chaos” to the industry.

Meanwhile, Coca-Cola said it would shift to using more plastic bottles instead of aluminum if the tariffs take effect.