U.S. Automakers Warn Congress: China's Cars Are Taking Over [Yahoo! Finance]
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Source: Yahoo! Finance
Representatives of the industry said Chinese state-backed manufacturers now pose a “clear and present threat” to the United States' automotive sector unless Congress and the administration adopt stricter barriers to Chinese entry into the market. The warnings come at a moment of heightened economic and geopolitical tension between the world's two largest auto producers. The comments were delivered by members of the Alliance for Automotive Innovation, a lobbying group that speaks for some of the largest names in the business including General Motors, Ford, Toyota, Volkswagen, Hyundai, Stellantis and others. In written testimony, the group urged lawmakers to maintain and make permanent sweeping restrictions on Chinese automotive and technology imports, and to block Chinese government-backed automakers and battery manufacturers from building production facilities in the United States. The alliance argued that even heavy U.S. investment in domestic manufacturing cannot counter China's
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