Shares of Chinese automakers climbed in spite of news that the U.S. government is mulling a new proposal to ban Chinese and Russian car parts.
Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia .
Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on January 14, 2024.Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing.
"Cars today have cameras, microphones, GPS tracking, and other technologies connected to the internet. It doesn't take much imagination to understand how a foreign adversary with access to this information could pose a serious risk to both our national security and the privacy of U.S. citizens," said Commerce Secretary Gina Raimondo.
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