China slaps fines on Ford joint venture amid trade spat with U.S.

중국, 포드 합작사에 277억 원 벌금…미중 무역분쟁 신호탄China's market regulator has slapped a multi-million-dollar fine on Ford's venture with the state-run Changan Automobile Group,... in the latest action against Washington amid the escalating trade spat.The State Administration for Market Regulation said Wednesday that it will fine Changan Ford over 23 and a half million U.S. dollars for violating anti-monopoly laws.It said the joint venture set a minimum resale price for its cars in the Chinese city of Chongqing since 2013,... depriving dealers of pricing autonomy.The fine is equivalent to four percent of the joint venture's annual sales in the city.Beijing didn't say the move is linked to the ongoing U.S.-China trade war, but watchers speculate it's a retaliation.The U.S. recently declared a ban on business with China's Huawei Technologies.Last weekend, Chinese authorities targeted U.S. logistics firm FedEx,... saying it will conduct a probe into the diverted deliveries of packages.