Chinese authorities have imposed a $23.6 million fine on Ford's joint venture with Changan Automobile for "price fixing" as trade tensions between the Asian country and the US are gaining momentum.
The joint venture is a 50/50 split between the US car producer and the Chinese state-owned Changan Automobile Group.
Commenting on the ruling, a Ford representative said that "Changan Ford respects the decision taken by the State Administration for Market Regulation".
Last June, Trump ruled to impose 25 percent tariffs on $50 billion worth of Chinese imports in a bid to balance the trade deficit. Since then, the two countries have exchanged several rounds of duties.
Besides the tariff war, in May US President Donald Trump issued an executive order adding China's Huawei and its 70 affiliates to a trade blacklist, thereby restricting its activity in the country. Following the ruling, several US tech giants, including Google, Intel, and Microsoft announced suspensions of ties with the Chinese company.