"With all the nervousness we have now in the business, we are very glad that we are here with a local factory,” CEO Officer Hakan Samuelsson. “Without that, we would be even more worried about the future.”
“We will continue using all available tools to create a better and fairer trading system for all Americans,” the president said.
China will impose tariffs with “equal scale, equal intensity” on imports from the U.S., and all of the country’s earlier trade commitments are now off the table.
The pullback in factory output largely reflects a disruption in truck assemblies due to a major fire at a parts supplier.
China has pledged a tit-for-tat response.