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Trump administration expresses 'profound concern' over Ford's ties to China

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Core Development: Trump administration expresses 'profound concern' over Ford's ties to China
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Market & Financial Impact: In a letter to Ford CEO Jim Farley, U.S. DOT Secretary Sean Duffy questioned the automaker's strategic trajectory involving Chinese companies.
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The Trump administration expressed "profound concern" Tuesday about Ford Motor's ties to Chinese companies that it believes could be detrimental to the Detroit carmaker and U.S. automotive industry.

In a letter addressed to Ford CEO Jim Farley, Transportation Secretary Sean Duffy questioned the automaker's strategic trajectory with Chinese companies "as it pertains to American national automotive manufacturing integrity, supply chain exposure, and reliance on technologies of foreign adversaries."

Ford, which regularly touts its position as the top-producing automaker in the U.S., called the letter a "wrongheaded attempt to capture headlines."

It also defended its stance as America's top-producing carmaker and said it employs more hourly workers in the country than any other automaker, while calling out "factual errors" in the letter. Ford said those errors included Duffy's comments about Farley proposing a joint-venture framework for Chinese automakers to enter the U.S.

The letter is the latest incident in a series of contentious discussions between the U.S. automotive industry and the Trump administration, which has caused uncertainty with its changes to trade and federal rules and regulations.

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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