Published: Mon, September 10, 2018
Markets | By Otis Pena

Despite Donald Trump's Tweet, Ford Won't Make Hatchback In US

Despite Donald Trump's Tweet, Ford Won't Make Hatchback In US

Last month, it added tariffs to another $16 billion in Chinese goods and is readying taxes on another $200 billion worth.

The U.S and China have been locked in an escalating trade dispute, with each nation levying significant tit-for-tat tariffs against one another.

Ford Motor Company on Sunday pushed back against President TrumpDonald John TrumpTiger Woods calls Nike's Kaepernick campaign a "beautiful spot" EPA lost more than 1,500 workers in first 18 months of Trump administration: report Trump: Races that GOP was not thinking about winning "are now very close" MORE's claim that it can build a China-made hatchback model in the USA after it scrapped plans to sell it domestically because of the president's tariffs. "Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower US growth and competitiveness and higher prices for US consumers", the company said.

The United States and China have activated additional tariffs on $50 billion of each other's goods since July, as trade friction between the world's two biggest economies worsened, despite several rounds of negotiations.

The strong employment report boosted the dollar, which held on to Friday's gains at 95.43.

The crown rose about 0.6 percent against the euro to 10.43 crowns.

Apple has indicated that President Donald Trump's proposed decision to impose 25 per cent more tariffs on products from China could result in prices of some devices from the company going up. Hong Kong's Hang Seng index slipped 1.3 percent.

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Chinese shares were battered with the blue-chip index off 1.4 percent.

In early European trade London, Paris and Frankfurt all fell 0.1 percent. Over the weekend, Trump took another swipe at China on the trade front with his tweets here. They also noted a "concentration risk" from some of the world's largest funds' heavy investments in emerging-market assets.

The greenback has already rallied against a number of emerging markets units - with India's rupee at record lows and the Indonesian rupiah at a 20-year trough - on fears that economic crises in Argentina, South Africa and Turkey could spread globally.

Spot gold was a tad softer at $1,193.01.

Market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, February 6, 2018.

"The days of the USA being ripped-off by other nations is OVER!"

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