Ford says it's still making hatchback overseas despite President Trump's tweet

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

As pointed out in the Detroit Free Press, China's import tax for World Trade Organization members like the United States was 15 percent, since raised to 40 percent. So far it is not clear if the tariffs will go through.

And, according to BOA Merrill Lynch analyst Wamsi Mohan, Apple may just give in to the president's request by asking its partners to bring some iPhone assembly operations into the US, which will lead to higher prices.

At 07:14 GMT, the yuan was quoted at 6.8601 per USA dollar, 0.16 percent weaker than the previous close of 6.8492. China is retaliating with its own tariffs on USA products.

In its statement, Ford said, "It would not be profitable to build the Focus Active in the USA", citing meager sales forecasts for the Focus Active in the states.

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President Donald Trumpand Apple are not seeing eye to eye.

Trump's response: President Donald Trump tweeted on Saturday, "There is an easy solution where there would be zero tax, and indeed a tax incentive".

Analyst Wamsi Mohan said that the most likely scenario would see Apple moving 10 percent of its iPhone assembly stateside, resulting in an average iPhone selling price increase of 8 percent to account for higher labor costs.

Ford spokesman Michael Levine said the Focus Active is built in Europe.

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Apple Inc said a "wide range" of its products including the Apple Watch would be affected by proposed USA tariffs on Chinese goods but gave no sign of an impact on its iPhone.

The presidential tweet is the latest salvo in a dispute between the Trump administration and companies that fear tariffs will hurt their business.

Demand for small cars in the US has been waning for years with relatively low gasoline prices and a shift from cars to SUVs and trucks.

Trump says new Chinese tariffs mean small crossover can be built in the States, Blue Oval responds with "yeah, nah". The United States already has imposed tariffs on steel and aluminum from China and, as of July, put a 25 percent tax on cars imported from China. More broadly, tariffs will lead to higher US consumer prices, lower overall USA economic growth, and other unintended economic consequences. It also said that every Apple product "contains parts or materials from the United States and is made with equipment from US-based suppliers".

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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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