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The top two U.

S. automakers are preparing for a possible economic downturn, the companies said on Tuesday, as an ongoing trade war between Washington and Beijing fuels fears of a global recession.

Tit-for-tat tariffs have increased raw material costs for the global auto industry, which is already dealing with weak demand in both China and the United States.

Ford Motor Co. has a cash buffer of $20 billion for a potential downturn event, Ford North American CFO Matt Fields said at a J.P. Morgan Conference in New York.



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GM And Ford Fear Economic Downturn As Trade Wars Loom

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