Billionaire behind ‘American Factory’ firm warns of US exit amid trade friction with China

As one of the world’s largest automotive glass producers, and the subject of an Oscar-winning documentary, Fuyao Glass is a familiar name in the United States. Now, its founder has warned he is prepared to shut down his American plants if trade friction and tariffs cause severe losses.Responding to questions regarding geopolitical risks at the company’s annual general meeting, Cao Dewang said that the company would not engage in loss-making ventures.“How much in duties you want to impose is your business,” said the billionaire, who turns 80 next month. “If we encounter unreasonable situations, we’ll simply shut down the [US] factories.”While Fuyao’s American roots stretch back to 1995, its presence is now anchored by its plant in Moraine, Ohio – a shuttered General Motors factory that Fuyao purchased in 2014.