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Ford Motor Co will pay US$365 million (RM1.7 billion) to resolve US charges that it violated federal tariff laws by misclassifying hundreds of thousands of Transit Connect vehicles and undervaluing them.
The government said it was one of the largest customs fine settlements in modern times. Ford said it strongly objected to the charges but agreed to settle in an effort to resolve a decade-long dispute. The vehicles are accused of adding fake features to avoid the 25% tariff.
The Ministry of Justice emphasized that companies will not be allowed to evade tariffs through false operations. Ford could face fines of up to $1.3 billion if convicted, and the Supreme Court has declined to hear its appeal.
(Source: Reuters Image source: freepik)
