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Ford Says No Plans for Now to Hike China Prices


FILE - Visitors check out the Ford booth during the Auto China 2018 show, in Beijing, China, April 25, 2018.
FILE - Visitors check out the Ford booth during the Auto China 2018 show, in Beijing, China, April 25, 2018.

U.S. car maker Ford Motor Co said on Thursday it has no plans currently to hike retail prices of its imported Ford and Lincoln models in China, despite steep additional tariffs on imported U.S. vehicles set to come into play on Friday.
The firm, which has been facing sluggish sales in the world's largest auto market, said in a statement "it has no current plans to increase the manufacturer's suggested retail price (MSRP) on its import line-up in China.”

Ford is the first foreign automaker to address pricing issues ahead of the new tariffs that will affect around $34 billion of U.S. imports from soybeans and cars to lobsters.

China, which just days ago cut tariffs on all imported automobiles, has said that it will slap an additional 25 percent levy on 545 American products, including U.S.-made cars, should the Trump administration go ahead with plans to implement tariffs on $34 billion of Chinese imports from July 6.

Ford added it encouraged Washington and Beijing to resolve their issues over trade and that it would "continue to monitor the situation as it evolves.”

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    Reuters

    Reuters is a news agency founded in 1851 and owned by the Thomson Reuters Corporation based in Toronto, Canada. One of the world's largest wire services, it provides financial news as well as international coverage in over 16 languages to more than 1000 newspapers and 750 broadcasters around the globe.

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