As the US and China square off over everything from tech to military might, Ford Motor Co. has emerged as the American firm most at risk from its exposure to the world’s No. 2 economy, according to Strategy Risks,

A report released by Strategy Risks reveals which U.S. companies are more vulnerable to risk due to their high levels of exposure to China amid tense geopolitical relations between Washington and Beijing.

The automaker co-owns at least seven state-controlled joint ventures in China and has at least four state influenced JVs, Strategy Risks says.

Ford and General Motors stock fell after rival car maker Stellantis revised down its 2024 financial guidance, citing deteriorating industry dynamics and Chinese competition.Ford shares fell 3.2% to $10.

Stellantis warned that this year's financial results would be worse than expected. Ford investors worry it will disappoint the market next.

General Motors Corp.’s stock and Ford Motor Co.’s stock dropped Monday after Jeep owner Stellantis NV warned it’s facing tighter profit margins due to increased competition from Chinese automakers and lower wholesale shipments.