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US Senate Passes Bill to Ban Carmakers With 15%+ CN Ownership From Selling in US
2026-07-23 09:59:59 The US Senate Commerce Committee passed a bill to strengthen restrictions on Chinese automakers entering the US market, proposing to prohibit companies with more than 15% Chinese ownership from selling vehicles in the US. As Mercedes-Benz has nearly 20% Chinese shareholding, it is expected to be barred from selling vehicles in the US. US Republican Senator Ted Cruz said General Motors Company (GM.US) is pushing the bill in hopes of forcing Mercedes-Benz out of the US market, making its Cadillac brand more competitive, foreign media reported. However, the Commerce Committee has never considered banning Mercedes-Benz from selling in the US. US Republican Senator Bernie Moreno said Mercedes-Benz must adjust its shareholding structure before 2030 or apply for an exemption from the ownership restriction. ~ AASTOCKS Financial News Website: www.aastocks.com | |