The bike-sharing company ofo announced it pulled its business out from the Madrid region in Spain, according to Chinese media. This comes after their recent withdrawal from Australia and Germany.
The Chinese bike-sharing startup ofo confirmed with Quartz that the company is laying off employees in its North American marketing, communications, and engineering teams, along with its recent withdrawal from other markets.
Early this morning, U.S. President Trump signed a presidential memorandum to impose punitive tariffs on $60 billion of Chinese imports to punish “China’s theft of U.S. intellectual property.” In signing the memo, Trump said, This is the first of many.
