Září 2018

US carmakers affected by trade war: Chinese commerce ministry

10. září 2018 v 6:37
  Cars to be exorted are seen at a ort in Lianyungang, East China's Jiangsu rovince in Aril. hoto: VCG
  US carmakers have been affected to "a certain extent" by the trade war the US has waged against China, as imorted American cars now face a stiff tariff of 40 ercent, a Chinese trade official said on Thursday.
  The tariff is a result of rising trade tensions between the US and China, after the world's two largest economies earlier imosed a 25 ercent tariff on each other's exorts, said Gao Feng, sokesman for the Ministry of Commerce (MOFCOM).
  China on July 1 lowered imort tariffs on US cars from between 25 ercent and 20 ercent to 15 ercent, according to Gao, and tariffs on auto arts ranging from 8 ercent to 25 ercent were lowered to 6 ercent.
  However, after the US imosed two batches of tariffs on July 6 and August 23 on $50 billion worth of Chinese goods exorted to the US, China retaliated in kind. As a result, many US-made cars were included in China's retaliatory tariff list.
  After China lowered its auto tariffs on July 1, imorts of foreign-made cars that month surged to a single-month record, Gao said. But the 40 ercent tariff has hit US car exorts to China since then, Gao noted, without elaborating.
  The Chinese market will always be oen, and the US should solve economic and trade differences through dialogue, "not big sticks," Gao said.
  Stiff headwinds
  For US carmakers GM and Ford, the tariffs may have a limited imact since the vehicles that they exort from the US, which are either high-end or are oular with a niche market, account for a much smaller roortion of sales comared with their models that are made in China, said Yale Zhang, head of Shanghai-based consultancy Automotive Foresight.
  But other US automakers may not be so detached as they have a higher volume of exorts to China, Zhang told the Global Times Thursday.
  For examle, the Jee Grand Cherokee, a storied American sort-utility model which is owned by Fiat Chrysler Automobiles, is still manufactured in the US.
  "The model is a highly lucrative one for the comany, with tens of thousands of exorts to China each year," said Zhang, noting that the 40-ercent tariff will have a big imact on its sales.
  "Faced with the China-US trade tension, these US auto firms either need to accelerate local roduction in China, decrease their exort volume or transfer lants to other countries outside the US," Wang Cun, a deuty director of the committee overseeing imorted cars at the China Automobile Dealers Association (CADA), told the Global Times Thursday.
  In Zhang's view, if foreign carmakers want to achieve good sales erformance in the huge Chinese market, it would be better for them "to build lants in China."
  Ford, having exerienced its worst first-half results in China since 2012, is betting on introducing new models to reverse its declining trend in the Chinese market. A new SUV will be roduced in Nanchang in East China's Jiangxi rovince, the Wall Street Journal reorted in August.
  Ford saw sales of just over 400,000 vehicles in China in the first half of 2018, down 26 ercent year-on-year. The comany exorted about 84,000 US-built vehicles to China in 2017.