Economy

Ford says it's still making hatchback overseas despite President Trump's tweet

Ford says it's still making hatchback overseas despite President Trump's tweet

Trump tweeted Saturday that "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", if the company made its products in the USA instead of China.

President Donald Trump responded to Ford's announcement last month that the administration's tariffs on goods including cars imported from China prompted it to cancel plans to import the 2020 Focus Active.

Trump declared victory on Sunday, writing: "This is just the beginning". The Trump's tweet on Saturday came after Apple hinted at increasing the price of its products.

Trump has criticised China's record trade surplus with the United States, and has demanded that Beijing cut it immediately.

China's growing e-bike industry faces duties not only from the USA but also the European Union, which slapped provisional anti-dumping tariffs of 22 per cent to 84 per cent on Chinese-made e-bikes in July, alleging Chinese companies benefited from cut-rate aluminium and other state subsidies.

Ford in April made the shock announcement that by 2020 the only passenger cars in its lineup will be the Mustang and the Focus Active soft-roader based on the recently redesigned fourth-generation Focus.

Ford has traditionally produced a range of sedans, including the Focus, Taurus and Fiesta. Ford confirmed to The New York Times that it will not build or sell the Focus Active in the United States. That helped fan concerns of trade tensions between Asia and the US, which led many Asian markets lower. A 50 percent shift, Mohan added, would lead to a 14 percent price increase. Now, the change in plans leaves the Mustang as the lone passenger auto with a long-range future in Ford's domestic lineup as the company doubles down on trucks, SUVs and commercial vehicles.

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"[Ford can make Focuses] in many other plants around the world, so if they made a decision to continue to sell a Focus variant in the USA market, there are several options other than building it in the United States". It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs. "Even if you had demand and volume, it's still very hard to build a small vehicle in the USA profitably, which is why you find very few of them here".

Apple is highly exposed to a trade war between the United States and China.

Furthermore, as the Huffington Post reported, citing federal statistics, USA trade deficit with China, and the European Union has jumped to a five-month high, in spite of the tariffs.

USA stock investors are looking to extend momentum after corporate profits hit a record high in the second quarter, while investors think an Italian debt crisis would spark a conflict with Europe that would hurt the domestic economy.

The tariffs changed everything. Trump said Friday he is considering another US$267 billion of tariffs on China, which analysts said will affect virtually every category of consumer goods, to retaliate against what he calls unfair trade practices.

Some background: The first tariffs on $34 billion worth of Chinese goods went into effect back in July.


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