WSJ: Ford has suspended deliveries of a number of models to China due to high duties
US automaker Ford has suspended deliveries of a number of its models to China amid high duties, the Wall Street Journal reported, citing people familiar with the matter.
“Ford Motor has stopped deliveries of expensive pickup trucks, SUVs and sports cars to China to avoid duties that have risen sharply in recent weeks,” the publication writes.
It is noted that due to China’s retaliatory measures to raise U.S. import duties on imports of Ford cars in China jumped to 150%, sources told the publication.
The newspaper writes that Ford also exports engines and gearboxes to China, these supplies continued.
US President Donald Trump signed an executive order on April 2 to impose “reciprocal” duties on imports from other countries. Their prime rate is 10%. And for 57 countries from April 9, the increased rates, which were calculated based on the trade deficit of the States with a particular country – so that instead of a deficit there was a balance. However, already on April 9, Trump announced that more than 75 countries have not retaliated and requested negotiations, so for 90 days for all but China, the basic import duties of 10% will be in effect.
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