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Home / Business / American auto and parts manufacturers want quick resolution to trade disparities in the United States and China

American auto and parts manufacturers want quick resolution to trade disparities in the United States and China



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "American auto and auto parts manufacturers to encourage the US and Chinese authorities to find out their differences in response to China's announcement Friday & nbsp; that it would reintroduce 25% tariffs on imported American cars and 5% tariffs on imported car parts, starting 15 December "data-reactid =" 15 "> US car and car manufacturers are urging US and Chinese authorities to find out their differences in response to China's announcement Friday that it would reintroduce 25% tariffs on US imports cars and 5% tariff rates for imported car parts, starting December 1
5. China's Ministry of Commerce revealed a plan to implement additional tariff rates for a total of $ 75 billion US goods, some of which will apply to US car exports. A statement from China's Ministry of Commerce says a first wave of tariffs from 5% to 10% on 5,078 US products comes into effect on September 1. The effective dates reflect already planned US $ 300 billion US tariff rates, set for early September 1.

<p class = "canvas atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "Mens a & nbsp; series of tweets & nbsp; from President Trump on Friday ordered US companies to seek alternative markets to China and criticized China for not curbing theft of US intellectual property, executives in the auto industry say they prefer a solution that still includes business with the country. "data-reactid =" 17 "> While a series of tweets from President Trump on Friday ordered US companies to seek alternative markets to China and criticized China for not curbing US theft intellectual property, automotive executives say they prefer a solution that includes continued business with the country.

23. August 2019 Tweet by President Donald Trump [19659006] More

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Ford Motor Company spokesman ( FORD ), the leading vehicle exporter in the United States, told Yahoo Finance that the company is uniquely positioned as a net exporter to China." Data-reactid = "31"> A spokesman for Ford Motor Company (FORD), the leading vehicle exporter in the United States, told Yahoo Finance that the company is uniquely positioned as a net exporter to China.

“We urge the United States and China to find a short-term solution to remaining issues through ongoing negotiations. It is essential for these two important economies to work together to promote balanced and fair trade, "the spokesman said.

CHICAGO, ILLINOIS – JUNE 24: A Lincoln Aviator gets a final inspection as it rolls off the assembly line at the Chicago Assembly Plant June 24, 2019 in Chicago, Illinois. Ford recently invested $ 1 billion to upgrade the facility where they build Ford Explorer, Police Interceptor Utility and Lincoln Aviator. (Photo by Scott Olson / Getty Images)

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" In the second quarter of 2019, Ford & nbsp; & nbsp; reported a total decline of 9% year-on-year in wholesale, partly driven by China, but the company still managed to reduce its losses in China this quarter. the auto segment reported a 48% increase in consolidated revenue the previous year, driven by higher Lincoln volumes, reducing EBIT loss to $ 155 million. "data-reactid =" 53 "> In the second quarter of 2019, Ford reported a total decline of 9 % from the previous year in wholesalers, partly driven by China. The company still managed to limit losses in China for the quarter. In China, the automotive segment reported a 48% increase in consolidated revenue from the previous year, driven by higher volume from Lincoln, which reduced EBIT loss to $ 155 million.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Engine & Equipment Manufacturers Association a trade organization representing light and commercial motor vehicle manufacturers and sub-manufacturers, which is the largest manufacturing sector in the United States, said they want a resolution that includes intellectual property protection, as well as resumed trade. "Data-reactid =" 54 "> Engine & The Equipment Manufacturers Association, a trade organization representing light and commercial automakers and parts manufacturers, which is the largest manufacturing sector in the United States, said it wants a solution that includes intellectual property protection and resumed trading.

"MEMA has repeatedly asked China and the United States to work together to achieve a trade agreement that works for both countries," the organization said. "We ask both parties to resume the talks and reach an agreement that allows US companies to remain competitive in a global marketplace while protecting intellectual property rights."

The Goodyear Tire and Rubber Co retail area is seen in Westminster, Colorado on August 27, 2013. Goodyear rose 1.7 percent to $ 19.54 the day after the company said one of its largest investors. had increased its stake in the company by 44 per cent. REUTERS / Rick Wilking (USA) – Tags: BUSINESS)

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = " text "content =" The Goodyear Tire & Rubber Company ( GT ), which manufactures and distributes tires and other vehicle-related products worldwide, said it supports free and fair trade. "data-reactid = "76"> Goodyear Tire & Rubber Company (GT), which manufactures and distributes tires and other vehicle-related products worldwide, said it supports free and fair trade.

"We are looking at today's US-China trade activity and will take action if necessary to ensure uninterrupted service to our customers," a company spokesperson told Yahoo Finance.

Goodyear reported on softening demand in China in revenues in the second quarter, attributing a 12% decrease in the volume of the original equipment unit to lowering car production across China and India.

US auto parts exports to China totaled more than $ 3 billion in 2018, according to Auto Care Association.

"US brands are recognized and highly regarded in international markets," said Angela Chiang, director of international affairs for the Auto Care Association. "Introducing tariffs on US products and pricing them from the Chinese markets equals lowering the tariff rates for all other countries and competitors. "

The Chinese news site Xinhua reported that China will accept applications for exemption from customs duties, the details of which the authorities would announce at a later date.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "Yahoo Finance reached General Motors ( GM ) and did not receive an immediate response. " data-reactid = "86"> Yahoo Finance reached General Motors (GM) and did not receive an immediate response.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – -sm Mt (0.8 em) – sm" type = "text" content = "Fiat Chrysler Automobiles ( FCAU ) postponed comments to its representative organizations, the American Automotive Policy Council and the Alliance of Automobile Manufacturers, from which Yahoo Finance did not receive an immediate response. "Data-reactid =" 87 "> Fiat Chrysler Automobiles (FCAU) postponed comments to its representative organizations, the American Automotive Policy Council and the Alliance of Automobile Manufacturers, from which Yahoo Finance did not receive an immediate response.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Alexis Keenan is a reporter for Yahoo Follow Alexis on Twitter @alexiskweed. "data-reactid =" 88 "> Alexis Keenan is a reporter for Yahoo Finance. Follow Alexis on Twitter @alexiskweed.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read the latest Yahoo Finance economic and business news "data-reactid =" 89 "> Read the latest Yahoo Finance economic and business news

<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Follow Yahoo Finance on Twitter [19659027] Facebook Instagram Flipboard SmartNews [19659043] LinkedIn YouTube and reddit . "data-reactid =" 90 "> Follow Yahoo Finance at Twitter Facebook Instagram Flipboard SmartNe ws LinkedIn YouTube and reddit .


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