ibusinesslines.com
ibusinesslines.com November 14, 2018


Asian shares on slippery slope as Trump ups ante in trade war

10 September 2018, 10:27 | Kelvin Horton

In a statement Sunday in the wake of tweets by President Trump, Ford said production of its Focus Active hatchback won't be coming back to the U.S.

Trump tweeted on September 8 that Apple should build new manufacturing plants in the U.S. to avoid tariffs on Chinese imports that the United States government is planning to introduce.

It now appears as though Trump's claim that Ford can now move production of their vehicle, the Focus Active, to the United States, is, as Trump would call it, "FAKE NEWS".

Earlier this week, Apple said in a regulatory filing that the president's proposed $200 billion in fresh tariffs on China would cover "a wide range of Apple products", from its Mac Mini computer to cables, chargers and laptop cases.


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.

Trump tweeted over the weekend that the tech giant should manufacture its gadgets in the United States if it wanted to avoid tariffs on Chinese imports, saying an "easy solution" to Apple's problem would be to "start building new plants now". "Start building new plants now", Trump tweeted. "Exciting!" Trump said in the tweet. It's a recurring threat Apple Chief Executive Tim Cook has heard from the White House, but a particular distraction in the days leading up to news of three new iPhones. "Looking forward, the focus would be on how the market reacts after Apple releases its latest models", said Kevin Chung, analyst at JihSun Securities Investment Consulting.

In April, Ford announced plans to stop making cars in the United States - except for the Mustang - and to focus on more profitable SUVs. That would extend tariff increases to almost all of China's exports to the United States. But the president told reporters Friday that imposing tariffs on $200 billion worth of Chinese products "will take place very soon depending on what happens".



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