July 22 (Reuters) – The U.S. Senate Commerce Committee approved legislation to toughen a U.S. government ban on Chinese automakers entering the American market that could potentially bar Mercedes-Benz from selling vehicles in the United States. Senator Ted Cruz, the chair of the committee, warned that without changes, the bill’s provision that would ban companies […]
U.S.
US Senate panel approves bill to crack down on Chinese vehicles
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July 22 (Reuters) – The U.S. Senate Commerce Committee approved legislation to toughen a U.S. government ban on Chinese automakers entering the American market that could potentially bar Mercedes-Benz from selling vehicles in the United States.
Senator Ted Cruz, the chair of the committee, warned that without changes, the bill’s provision that would ban companies with more than 15% ownership of Chinese entities would bar Mercedes-Benz from selling vehicles in the United States because of its nearly 20% Chinese investment. Senator Bernie Moreno said Mercedes-Benz would have until 2030 to comply and could still get waivers if needed.
(Reporting by David Shepardson)