China's trade leverage temporarily shuttered one of Detroit's biggest brands.
Ford's CEO, Jim Farley, said his company doesn't have enough rare-earth magnets, forcing the automaker to halt some production lines.
'It's day to day,' the top boss said in a Friday interview with Bloomberg News. 'We have had to shut down factories. It's hand-to-mouth right now.'
Ford's production struggles are part of the ongoing tit-for-tat trade escalation between Washington and Beijing. But the company is expecting relief in the coming weeks.
In April, Chinese officials stopped the flow of magnets into the US — a critical component found in nearly every modern car's brake pads, seats, windshield wipers, and batteries.
Poster Comment:
Israel warns Iran that 'Tehran will burn' if it fires more missiles - after regime landed DIRECT HIT on 'Israel's Pentagon'
https://www.dailymail.co.uk/news/article-14808217/Iran-Israel-airstrikes-salami- nuclear.html