White House to detail plan to safeguard US auto sector to avoid second ‘China shock’ By Reuters

WASHINGTON (Reuters) – Top White House economic adviser Lael Brainard plans to lay out on Monday the Biden administration’s broad approach to protecting the U.S. auto sector from what it says are unfair trade actions by China.

“China is flooding global markets with a wave of auto exports at a time when it is facing overcapacity. We’ve seen this play out before in the China shock of the early 2000s, which affected our manufacturing communities,” Brainard will say at the Detroit Economic Club. , according to the prepared remarks.

“The administration is determined to avoid a second China shock, which means putting safeguards in place before a wave of low-priced Chinese cars undermines the US auto sector’s ability to compete on the global stage.”