Major automakers say China poses 'clear and present threat' to US auto industry [Yahoo! Finance]
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Source: Yahoo! Finance
battery manufacturers from opening U.S. ?manufacturing plants, warning the industry's future is at stake. The Alliance for Automotive ?Innovation, which represents General Motors, Ford, Toyota Motor, Volkswagen, Hyundai, Stellantis and other major automakers, sounded the ?alarm and said Congress and the Trump administration needed to act. "China poses a clear and present threat to the auto industry in the U.S.," the group wrote in a statement for a U.S. House hearing on Chinese vehicles. The group also said ?lawmakers should maintain the U.S. ?Commerce Department's prohibition on importing information and communications technology and services from China that effectively bars the import of vehicles from ?Chinese manufacturers. "No amount of investment by automakers and battery manufacturers operating inside the U.S. can counter a China that is enabled by subsidies to chronically oversupply around the world. This is ?a recipe for dumping that Congress and the Trump Administration
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