Business, Top News

China fines Ford joint venture in latest hit on US firm

China USA trade war

China on Tuesday imposed a $23.6 million fine on US auto giant Ford’s joint venture with Changan Automobile for “price fixing” in the latest incident of Beijing targeting an American company amid a festering trade war.

The fine, amounting to four percent of Changan Ford Automobile’s sales in the southwestern city of Chongqing, was levied over violations of China’s anti-monopoly laws.

Source: afp.com

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *