“Ford has abruptly killed a plan to sell a Chinese-made small vehicle in the U.S. because of the prospect of higher U.S. Tariffs”.
Trump tweeted on September 8 that Apple should build new manufacturing plants in the U.S. to avoid tariffs on Chinese imports that the U.S. government is planning to introduce.
On Sunday, President Trump welcomed the news as a positive sign.
While the president technically isn’t wrong, Ford responded that they still have no plans to build or sell the new Focus Active in North America.
The Ford Focus Active, a small crossover auto now sold in Europe, was slated to begin production in China for the US market. Simply put, establishing a local production of the auto would not make a successful business case.
A tweet from the Oval Office on Sunday wasn’t enough to convince Ford Motor Company to build a new compact crossover SUV version of its Focus in the U.S.
“The $200bn we are talking about could take place very soon depending on what happens with them”.
BEIJING-Chinese leaders are stepping up a charm offensive with USA multinationals and sheathing earlier threats of retaliation as Beijing changes tack to keep the trade fight with Washington from scaring off foreign investors. Yet as noted by the Washington Post, on Friday Trump threatened an additional $US267 (6) billion in tariffs that “could cover virtually all Chinese-made goods entering the United States”.
Apple is anxious that a new round of Trump’s tariffs against China, on a further $267 billion of goods this time, will result in a price hike of its products. The president’s comment came after Apple expressed dissatisfaction with the trade war the Trump administration has been escalating with China.
China has threatened retaliation, which could include action against USA companies operating there.
In the letter, Apple asks the United States government to “reconsider these measures and work to find other, more effective solutions that leave the USA economy and USA consumer stronger and healthier than ever before”.
For instance, as CNBC reported, the Koch Network launched a six-figure ad campaign, meant to campaign against Trump’s tariffs.
Apple itself has already said which products would be hit as a result of the tariffs.
“Semiconductors are America’s fourth-largest export, and our industry has a global trade surplus of over $6 billion and a surplus with China of close to $2 billion in 2017”, Intel’s letter said.
Fitness tracker maker Fitbit said increased tariffs would compromise its investments in US -based innovation.
Some background: The first tariffs on $34 billion worth of Chinese goods went into effect back in July.