WASHINGTON, Sept 29 (Reuters): The Commerce Department said Friday that US auto sales could drop by up to 25,841 vehicles a year and prices rise if proposed rules go ahead that would ban Chinese vehicles that connect to the internet and key Chinese software and hardware.
US automakers and others selling in the United States "may be less competitive in the global market because of the relatively higher prices of their vehicles," the department said. It estimated between 1,680 and 25,841 fewer vehicles would be sold annually because of the rule.
Acting to reduce national security vulnerabilities that could be exploited by China, the department estimated the rule could bar $1.5 billion to $2.3 billion in vehicle inputs from Chinese or Russian companies for vehicles sold in the United States.
US auto sales could fall by 25,000 a year under rules barring Chinese vehicles
FE Team | Published: September 29, 2024 23:34:30
US auto sales could fall by 25,000 a year under rules barring Chinese vehicles
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