US and China to work together on trade, says Ford China chief
The CEO of Ford China said US President Donald Trump and Chinese President Xi Jinping are prepared to work together on trade so businesses in both countries can flourish.
Ford Motor Co.
$12.14
11:05 19/04/24
Trump had previously threatened to impose a 45% trade tariff on Chinese imports to the US, sparking fears of a global trade conflict, in addition to doubts about his policies towards the "One China" issue.
China is an area where many car manufacturers are showing huge growth, but Trump's campaign promises of isolationist trade policies have put the likes of Ford and General Motors on alert.
"I think it's way too early to be talking about any trade tariffs or barriers," said Ford China boss David Schoch. "I believe that President Trump and President Xi [Jinping] will create an environment of good, strong commerce."
"We've invested a lot in China," Schoch told CNN. "It's an integral part of future growth, we want to succeed here."
"I view the U.S. and China as two major economic powerhouses, and to be successful in the global environment, we're going to have to work with each other," Schoch said.
Early actions from President Trump suggest that his approach towards China may be less confrontational than first thought. He did not follow through on his promise to label the Asian superpower a currency manipulator.
He also last week vowed to honour the longstanding US stance on the "One China" policy, despite a controversial phone call to the Taiwan president before his inauguration.