Apple faces Trump's ire after company says tariffs would hurt products

Despite Trump tweet, Ford says it won't make hatchback in US

Despite Trump tweet, Ford says it won't make hatchback in US

Make your products in the United States instead of China. "Without the tariffs, the business case was pretty solid for that model in the US market", Kim said.

At 07:14 GMT, the yuan was quoted at 6.8601 per US dollar, 0.16 percent weaker than the previous close of 6.8492.

Even cars that are both made and sold in the US are not exempt from the implications of tariffs.

"Ford was pretty clear in its statement: Focus production will not shift in part or in whole back to the USA", said Stephanie Brinley, a senior analyst at London-based IHS Markit.

On Sunday, President Trump welcomed the news as a positive sign.

The tweet directed at Apple clearly suggested the company should make products in USA instead of China if they want to avail "zero" tax.

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

"Because all tariffs ultimately show up as a tax on US consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives", said the company.

Mr. Trump presumably learned about Ford's decision to cancel the Focus Active from a TV news program and inferred the announcement meant that Ford would build the CUV in America.

The tariffs, ranging from 5 percent to 25 percent, would apply to 5,207 products, and USA actions will determine whether China adopts the additional duties, Beijing said at the time.

However, a Ford spokesman Mike Levine indicated that there isn't a good a business case to build the low-margin, niche model in the U.S.

For President Trump, this is the second tweet aimed at American companies in two days.

The potential for a U.S. Federal Reserve rate hike after a U.S. labor market report showed wages posting their largest annual increase in more than nine years pushed 2-year Treasury yields to 2.7109 percent, their highest in 10 years.

In August, China unveiled a proposed list of retaliatory tariffs on $60 billion of US goods ranging from liquefied natural gas to some types of aircraft, should Washington activate the tariffs on its $200 billion list.

If sales were high enough to justify production at a USA plant, the price of a compact vehicle isn't high enough to cover the difference in wages here, she said.

Ford, however, has no plans to move production to the United States.

The Focus Active may be the first auto officially killed by the administration's tariffs, but it likely won't be the last.

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