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Trade war forces automakers Ford and Volvo to cancel big plans

This photo taken on May 22, 2018 shows an imported Ford Mustang displayed at a showroom in Nantong in China's eastern Jiangsu province /AFP/Getty Images

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President Donald Trump’s tariffs — and talk of more — are driving global automakers to make some big decisions. Volvo, which has a Chinese parent company and makes a couple vehicles on the mainland there, canceled a planned initial public offering of its stock, citing the dark cloud of tariffs. Ford, which makes a version of its Focus in China, reiterated that it will no longer export cars made in China to the United States.  

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