Economy

Ford Motors: Trump is wrong about making the Focus in the US

Ford Motors: Trump is wrong about making the Focus in the US

The following are comments made by USA companies after the Trump administration said on July 10 reut.rs/2m6Yu0r that it would slap tariffs on $200 billion of Chinese imports.

On Sunday, President Donald Trump tweeted approvingly about the 10-day-old news that his 25% tariffs on Chinese-made automobiles had led Ford (f) to decide against importing its compact Ford Focus Active model to the USA from the Chinese factories where the auto is made. CNBC. This is just the beginning.

"I hate to say this, but behind that there is another $267 billion ready to go on short notice if I want", Trump told reporters on Air Force One.

In a tweet sent on September 8, the U.S. president wrote: "Apple prices may increase because of the massive tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive". FCA and GM are also making the same plan - not to sale sedan cars in the USA market. The profit margins were simply too small to be worth it.

Apple, like other tech giants, has benefited from the last year's overhaul to the USA tax code, and the company has committed to returning much of the $252 billion in cash it held overseas. "You can shut off China and things will come from India, Thailand, Taiwan, Poland, Slovenia".

After touting his tariff plan, the president also cited tariff data that alarmed analysts.

More news: ‘Mass shooting’ in Bakersfield as gunman kills wife, several others

Even cars that are both made and sold in the USA are not exempt from the implications of tariffs. Seoul and Beijing later mended relations, but Lotte gave up and sold its China operations. Does anybody think that is FAIR?

The decision to proceed with tariffs on US$200 billion of Chinese imports dismayed US business figures, industry associations and trade experts, thousands of whom recently provided testimony to the US Trade Representative's Office, warning the government of the damage they would cause for small- and medium-sized businesses and their consumers. "The days of the US being ripped-off by other nations is OVER!"

China's imports rose 20.9 percent year-on-year to $1.41 trillion in the first eight months of the year, demonstrating the country's commitment to a multilateral trading system, experts said on Sunday. The same goes for the $1.3 billion of pantyhose, socks and other legwear sent to the USA from China a year ago.

American automakers ship about 250,000 vehicles a year from the U.S.to China, while China ships about 50,000 vehicles to the US annually, Dziczek noted.

Meanwhile, General Motors is seeking an exemption from the same tariffs on vehicles that hit Ford, suggesting that it will have to pull the China-made Envision SUV off the market if the exemption is not granted. Of course, by the time Apple could build plants to accommodate the manufacturing, it would already be way late. We're not defensive about building in America.

They also overshadowed data showing a bigger-than-forecast jump in USA jobs creation for August and sent all three main indexes on Wall Street into negative territory. The rest of us may have to pay more for running, tennis or soccer shoes.


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