The U.S. Senate Commerce Committee has voted to advance a bill that would tighten restrictions on Chinese automakers seeking to do business in the American market.
Senator Ted Cruz, who chairs the committee, raised concerns that one key provision of the legislation could have unintended consequences. The provision would prohibit any automaker with more than 15% ownership by Chinese entities from selling vehicles in the United States — a threshold that would affect Mercedes-Benz, which has nearly 20% Chinese investment.
Senator Bernie Moreno addressed those concerns, noting that Mercedes-Benz would have until 2030 to bring itself into compliance with the new rules. He also indicated that the company could seek waivers if necessary.
