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Stock impact report

Chinese EVs will destroy jobs unless Government acts, supplier warns [Yahoo! Finance]

American Axle & Manufacturing Holdings, Inc. (AXL) 
Last american axle & manufacturing holdings, inc. earnings: 2/14 08:00 am Check Earnings Report
US:NYSE Investor Relations: aam.com
Company Research Source: Yahoo! Finance
David Dauch, the chief executive of US-based Dauch Corp, said that an influx of electric vehicles (EVs) from the Far East threatens to wipe out vast swathes of suppliers in the West. He said: “Countries are going to have to put the right policies in place to make sure it's a level playing field for the suppliers and manufacturers in each of those countries. “If not, then they run the risk of losing jobs and potentially losing industries.” Mr Dauch said Europe will have to consider whether to follow Donald Trump in effectively blocking Chinese EVs from the US through a combination of 100pc tariffs and strict regulations. He said: “Right now, they are banned from coming into the US because of national security and other reasons. “The US has put certain things in place, tariffs or other measures, to prevent them from coming in because we're trying to protect the manufacturing base and jobs in our country. “Other countries have to assess that on an individual basis and make a Show less Read more
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