00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump faces growing pressure from automakers, suppliers, unions, and bipartisan
00:08lawmakers ahead of his meeting with Chinese President Xi Jinping, according to Reuters.
00:13Industry groups warn the president against allowing Chinese automakers access to the U.S.
00:18car market. Trump previously said he would welcome Chinese automakers building plants in the U.S.,
00:24alarming the industry, which has pushed for tariffs and data security restrictions on
00:29Chinese vehicles. Automakers, suppliers, unions, steelmakers, and politicians warned that Chinese
00:36automakers could crush domestic and foreign competitors with state support, low prices,
00:41and EV scale advantages, weakening U.S. manufacturing. The auto industry warned that
00:47rising U.S. vehicle prices and Chinese automakers' growing market share in Europe and Mexico could
00:53make cheaper Chinese EVs more attractive to American consumers.
00:56For all things money, visit Benzinga.com.
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