The US Senate Commerce Committee has approved a bill that plans to tighten restrictions on car manufacturers with the participation of Chinese capital. According to Reuters, if it is adopted, it can also be extended to the German Mercedes-Benz company.
According to the proposed regulations, the ban on working in the American market could apply to companies whose shares are more than 15 percent owned by Chinese investors. According to Ted Cruz, the chairman of the commission, Mercedes-Benz may also fall under this definition, as the Chinese shareholding in the company is almost 20 percent. At the same time, he noted that the bill still needs to be amended.
Cruz also said that some provisions of the document were supported by General Motors. The company, however, stated that the purpose of the initiative is not to fight against individual competitors, but to promote American manufacturing and the international competitiveness of the industry.
Senator Bernie Moreno, the co-author of the bill, noted that car manufacturers may be granted a transition period until 2030, and exceptions are possible for some companies.
Mercedes-Benz, for its part, emphasized the large volume of its activities in the United States and stated that it is ready to take into account the legal requirements, while protecting the interests of employees, partners and customers.
