Finance

U.S., Europe optimism helps global stock index dodge trade war dread

U.S., Europe optimism helps global stock index dodge trade war dread

Earlier this year, Ford restricted its manufacturing in the United States to the Mustang and its range of SUVs with the popular Focus sedan winding up production in May.

Ford Motor Company announced more than a week ago that it is canceling plans to produce the auto in China and sell it in the USA, citing the financial toll of the Trump administration's tariffs on vehicles imported from China.

"As we said last month, it would not be profitable to build the Focus Active in the USA given an expected annual sales volume of fewer than 50,000 units and its competitive segment", the company said in a statement emailed to NPR.

Chien Bor-yi, an analyst at Taipei-based Cathay Futures Consultant, said Apple's component supply chain in Taiwan would take a major hit if the United States increased tariffs on Chinese imported products.

Ford said August 31 the Trump administration's 25 per cent levy on China-built autos undermined the profitability of the vehicle.

"Ford has abruptly killed a plan to sell a Chinese-made small vehicle in the US because of the prospect of higher USA tariffs.' CNBC".

"Back to US' manufacturing seems to be back on the agenda for President Trump ..."

The Ford Focus Active has never been sold in the US, and Ford does not now import any vehicles from China.

China's imports from the United States a year ago totalled US$153.9 billion.

Intel Corp said proposed tariffs would negatively affect us businesses and "stifle advancements" in telecom infrastructure, including next generation technologies like 5G. "Start building new plants now", Trump tweeted.

Ford also wouldn't want to spend millions on equipment to build the Focus Active here because at low sales volumes it wouldn't get a good return on its investment, Dziczek said. On 6 July the United States began imposing a 25% tax on $34bn in Chinese imports, including motor vehicles.

The tariffs changed everything.

Beijing and Washington have imposed 25 percent import duties on $50 billion of each other's goods in a battle over technology policy.

The $200bn of Chinese goods on the U.S. list includes consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, with additional tariffs ranging from 10 to 25 percent.

Trump's comment came after Apple told USA trade officials on Friday that proposed tariffs by Washington in an escalating trade war with China would affect prices for a "wide range" of Apple items, including the Apple Watch.

The world's two biggest economies are clashing over US allegations that China deploys predatory tactics - including outright cybertheft - to acquire technology from USA companies and challenge American technological dominance.


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