China fined Ford’s main joint venture in the country for antitrust violations, marking the latest action toward a U.S. company as tensions between the two nations escalate.
that damage domestic companies’ interests and on Tuesday warned its citizens against travel to the U.S.
Ford said in a statement that it respects China’s decision and that the venture will regulate operations in the country. Representatives at Changan weren’t immediately available to comment. A Chinese official said Sunday that the government is firmly against the U.S.’s “long-arm” jurisdiction on Huawei, while downplaying concerns that the planned list of unreliable entities will be used to target foreign companies as a retaliation tool in the trade war.
The fine adds to Ford’s woes in China as sales at its Changan venture dropped 54% in 2018. But going after carmakers makes it potentially awkward for China, as foreign automakers typically team up with a local partner.
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