Ford spokeswoman, Rachel McCleery said the company is particularly concerned about the retaliatory rights that China could impose.
The Dearborn, Mich., Company says 80% of the vehicles assembled in the United States are sold internally, but some vehicles are exported to China.
“While most of the vehicles we sell in China are built in China, Ford exports a number of vehicles to China from the United States,” McCleery said. “Our biggest concern is the impact that retaliatory rights would have on our growing exports and customers in China.”
At the same time, Toyota spokesman Scott Vazin said the company “is presently looking into the impact on our global operations.”
In the past, Toyota has protested rates that could affect imported car parts, warning that it would increase production costs and drive higher vehicle prices for US consumers.
The companies waited on Monday to see how China would respond to President Donald Trump’s escalation in the struggle for technology and trade that threatens to disrupt China’s economic recovery.
Beijing has a shortage of imports and fines due to the imbalanced trade balance between the US and China. Regulators began targeting US companies in China, delaying the release of remittances and granting commercial licenses. Washington wants Beijing to cancel government plans to create Chinese competitors in the world of robotics and other technologies that trading partners believe are violating their free trade obligations.
Beijing agreed to Trump’s earlier 25% interest rate on $50 billion worth of US goods. It imposed import duties of $10 Billion up to a maximum of 10% but had no impact on other goods, which could cause Chinese companies that depend on US technology.
UBS economists said they believed Beijing could raise $60 Billion in US products and cancel an agreement to delay the increase in duties on US imported cars while the two parties are negotiating.