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Trump wants a trade deal, but South Korea doesn't want US cars

SEOUL - US auto imports from the likes of General Motors and Ford must become more chic, affordable or fuel-efficient to reap the rewards of President Donald Trump's attempts to renegotiate a trade deal with key ally South Korea, officials and industry experts in Seoul say. Meeting South Korean President Moon Jae-in last week in Washington, Trump said the United States would do more to address trade imbalances with South Korea and create "a fair shake" to sell more cars there, the world's 11th largest auto market. "What we really want to say to the United States is: Make good cars, make cars that Korean consumers like." While imports from automakers including Ford, Chrysler and GM more than doubled last year largely thanks to free trade deal which took effect in 2012, sales account for just 1 percent of a market dominated by more affordable models from local giants Hyundai and affiliate Kia. Imports make up just 15 percent of the overall Korean auto market, and are mainly more luxurious models from German automakers BMW and Daimler AG's Mercedes-Benz, which also benefit from a trade deal with the European Union. "Addressing non-tariff barriers would not fundamentally raise the competitiveness of US cars," a senior Korean government official told Reuters, declining to be identified because of the sensitivity of the subject. "What we really want to say to the United States is: Make good cars, make cars that Korean consumers like." TASTE BARRIER In Korea, US imports are seen as lagging German brands in brand image, sophistication and fuel economy, industry experts say. US imports do have a competitive advantage in electric cars: Tesla Motors' electric vehicles are seen as both environmentally friendly and trendy, while GM has launched a long-range Bolt EV. US Commerce Secretary Wilbur Ross had cited a quota in the current trade deal as an obstacle to boosting imports. The quota allows US automakers to bring in each year 25,000 vehicles that meet US, not necessarily Korean, safety standards. Should GM, for example, decide to bring in more than its quota of one model - the Impala sedans - it would cost up to $75 million to modify the cars to meet Korean safety standards, the company told its local labor union. Asked about non-tariff barriers, a spokesman at GM's Korean unit said removing them could expand the range of models the company can bring in from the United States. No US company, however, has yet to make full use of the quota, industry data shows.

Stocks down as automakers, Boeing lead China's hit list in trade spat

Shares in U.S. exporters of everything from planes to tractors fell on Wednesday after China retaliated against the Trump administration's tariff plans by proposing duties on key U.S. imports including soybeans, beef and chemicals. U.S. automakers' products are prominent on China's list of tariff targets, yet shares of automakers ended higher on Wednesday as Wall Street stocks changed course in the afternoon when investors' trade fears subsided. Tesla shares closed 7.3 percent higher at $286.94, Ford shares gained 1.6 percent to close at $11.33, and GM shares were up 3 percent at $38.03. Aircraft maker Boeing closed down 1 percent, weighing the most on the Dow Jones Industrial Average as documents from China's Ministry of Commerce and the U.S. manufacturer showed the move would affect some older Boeing narrowbody models. It was not immediately clear how much the tariffs would impact its newer aircraft. Boeing said it was assessing the situation while analysts from JP Morgan said the proposals from China looked to have been calibrated carefully to avoid a major impact on the planemaker. Fellow Dow component 3M lost as much as 2.4 percent. And farming equipment maker Deere lost nearly $10 per share at its lowest. The company urged the two countries to work toward a resolution to "limit uncertainty for farmers and avoid meaningful disruptions to agricultural trade." The speed with which the trade spat between Washington and Beijing is ratcheting up — the Chinese government took less than 11 hours to respond with its own measures — led to a sharp selloff in global stock markets and commodities. China was hitting back against U.S. President Donald Trump's plans to impose tariffs on $50 billion in Chinese goods with similar tariffs on U.S. goods even as Trump said the country is "not in a trade war with China." "Everybody knew they were going to retaliate. The question was how strong of a retaliation. Today's move clearly shows that they mean business," said Adam Sarhan, chief executive of 50 Park Investments in New York. China levied 25 percent additional tariffs on U.S. goods, but unlike Washington's list that covers many obscure industrial items, Beijing's covers 106 key U.S. imports including soybeans, planes, cars, whiskey and chemicals. Trump denied that the tit-for-tat moves amounted to a trade war between the world's two economic superpowers.

Ford applies to trademark term 'Lincoln eGlide'

There's an epilogue to Ford's recent announcement that it's giving up on a battery-electric Lincoln co-developed with Rivian. The MachEClub forum discovered that just a week ago, Ford applied with the U.S. Patent and Trademark Office to trademark the term "Lincoln eGlide." The goods and services category details use for "Motor vehicles, namely, passenger automobiles, sport utility vehicles, electric vehicles and structural parts and fittings; electric vehicles, namely, passenger automobiles, sport utility vehicles, and structural parts and fittings." Living in an age where a small "e" is shorthand for "electric," and Ford having specified electric vehicles in the patent, the go-to guess is that this is for an electric vehicle. The inclusion of non-electric motor vehicles injects a little fuzziness. Tesla's trademark on the Model S specifies "electric automobiles" only, whereas Rivian's trademark for the R1T seeks coverage for "land vehicles" and just about every part found in or on a land vehicle.   Since Ford must have known about the end of the Rivian effort when it applied for the trademark, we suppose Lincoln has got some kind of eGlide coming no matter what. Lincoln refers to the theme of its latest cabin designs, as in the Aviator and Corsair, "Quiet Flight," and the road-scanning adaptive suspension on the Lincoln Aviator is called "Air Glide," neither term being trademarked. This leads our suspicions to eGlide becoming a vehicle component that could potentially serve a model with any powertrain, not necessarily battery-electric only, and eGlide won't be the name of the Lincoln EV that Ford says is still on the way. Another clue is that Ford included the word "Lincoln" in the term. Trademarked vehicle names such as Aviator and Corsair don't include the make, but services for vehicles do, such as the trademarks for Lincoln Connect and Lincoln Co-Pilot 360. We'll admit that a little bit of hope informs this line of thinking as well. Ford having done Lincoln the fabulous service of giving Lincolns terrific names, we'd be aghast if the Corsair and Navigator had to share showroom space with an eGlide. We've no choice but to wait for a retail product to provide answers. In the meantime, if we could just get to the bottom of this "Fastor Charge" trademark, and what's this bit about "Vandemonium?"   Related Video: