Ford stops shipping vehicles to China amid 125% tariffs on US goods
Photo source: fordauthority.com
Ford has stopped shipping vehicles to China in the face of 125% tariffs that China has placed on US goods, Americandiary24 reports citing The Wall Street Journal.
Ford did not dispute the halt to CNN, which was first reported by The Wall Street Journal. The automaker shipped about 5,500 vehicles from its US plants to China last year, which is down from an average of 20,000 a year during the previous decade. US exports make up only a fraction of the 400,000 cars and trucks Ford sells in China. Most of those vehicles are built in the Chinese factories it operates with joint venture partners.
American automakers have been losing market share in China, the world’s largest car market, in recent years as Chinese automakers become more competitive and Chinese buyer shift toward purchasing electric vehicles.
Ford confirmed it continues to ship the Lincoln Nautilus SUV from China to the United States despite stacked tariffs of 145% on Chinese goods and 25% on autos. That is the only vehicle the company imports from China.
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