President Trump is right about cheap Chinese car imports destroying the American car industry.
Bloomberg News reported Monday morning that the “prospect of cheap Chinese-made EVs is already causing sleepless nights in Detroit.”
Bloomberg’s article says that China “is hellbent on expanding its own companies’ reach around the globe,” and described an anticipated surge of cheap Chinese cars as “the Chinese onslaught.”
Bloomberg: Auto executives and politicians in Washington are sounding the alarm about a potential existential threat to American car brands—and the millions of workers employed building them. The Alliance for American Manufacturing, a trade group backed by major manufacturers and labor unions, is calling for new protectionist trade measures against China to prevent an “extinction-level event.”
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“The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,” Carlos Tavares, CEO of Chrysler parent Stellantis NV, told reporters in February.
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In comments submitted to the Office of the US Trade Representative in January, the auto workers union called for increased “tariffs rates on automobiles and automotive parts, particularly electric vehicles and related components” from China.
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