Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    EU antitrust regulators clear Paramount-WBD merger

    July 22, 2026

    Kinder Morgan tops second-quarter profit estimates on higher natural gas volumes

    July 22, 2026

    Hyundai claims humanoid robot plan is not part of talks with striking workers

    July 22, 2026
    Facebook X (Twitter) Instagram
    Addison Markets
    • Home
    • USA
    • Europe
    • Business
    • Investing
    • Tech
    • Politics
    • Contact Us
    Addison Markets
    Home»Business»Senate passes China auto bill that could bar Mercedes-Benz from U.S.
    Business

    Senate passes China auto bill that could bar Mercedes-Benz from U.S.

    franperez66q@protonmail.comBy franperez66q@protonmail.comJuly 22, 2026No Comments2 Mins Read
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Telegram Email


    A Mercedes-Benz logo is displayed on a used vehicle for sale at a dealership on November 11, 2025 in San Diego, CA.

    Kevin Carter | Getty Images News | Getty Images

    The Senate Commerce Committee advanced bipartisan legislation Wednesday aimed at toughing a ban on Chinese automakers from the U.S. market, even as Chairman Ted Cruz, R-Texas, warned that it could unintentionally bar Mercedes-Benz from selling vehicles in the country.

    Cruz said during the committee’s markup of the Motor Vehicle Modernization Act of 2026 that the bill’s 15% Chinese ownership threshold would cover Mercedes-Benz because two Chinese investors collectively own nearly 20% of its shares.

    “We would never consider” banning Mercedes-Benz, Cruz said, adding that the bill would need to be changed before becoming law.

    Mercedes-Benz’s two largest individual shareholders are Chinese state-owned automaker BAIC, formerly the Beijing Automotive Industrial Corp., with a 9.98% stake, and Geely founder Li Shufu, with 9.69%.

    The bill would codify federal restrictions intended to keep Chinese-linked vehicle technology out of the U.S. over national security concerns that connected cars could collect sensitive data.

    “We’re preventing an absolute, total, and complete destruction of our industrial base,” said Sen. Bernie Moreno, R-Ohio, who introduced the bill with Sen. Elissa Slotkin, D-Mich.

    Mercedes-Benz previously declined to comment on the legislation but said it employs more than 10,000 people in the U.S. and operates assembly plants in Alabama and South Carolina.

    Moreno said during the markup that Mercedes-Benz would have until 2030 to comply with the ownership limit and could seek a waiver.

    During the markup, Cruz also accused General Motors of supporting the provision in an effort to weaken Mercedes-Benz and make Cadillac more competitive.

    “GM is pushing for this provision to get Mercedes-Benz out of the market,” Cruz said.

    GM and Mercedes-Benz did not immediately respond to requests for comment. GM is the top-selling automaker in the U.S.

    Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    franperez66q@protonmail.com
    • Website

    Related Posts

    EU antitrust regulators clear Paramount-WBD merger

    July 22, 2026

    Iran war energy shock hits U.S. economy, gas and diesel climb: Analysis

    July 22, 2026

    OpenAI cyber models broke out of training limits to hack Hugging Face

    July 22, 2026

    Google (GOOG) Q2 2026 earnings report: Live updates

    July 22, 2026

    Houthis ready to attack ships in southern Red Sea, naval group says

    July 22, 2026

    Trump: U.S. will bomb Iran bridges, power plants if it shoots in Hormuz

    July 22, 2026
    Leave A Reply Cancel Reply

    Top Reviews
    Editors Picks

    EU antitrust regulators clear Paramount-WBD merger

    July 22, 2026

    Kinder Morgan tops second-quarter profit estimates on higher natural gas volumes

    July 22, 2026

    Hyundai claims humanoid robot plan is not part of talks with striking workers

    July 22, 2026

    Secret Service says threat environment is highest ‘we’ve ever seen’

    July 22, 2026
    © 2026 All right reserved
    • Privacy Policy
    • Terms & Conditions

    Type above and press Enter to search. Press Esc to cancel.