White House to spell out plan to safeguard US auto sector, avoid second 'China shock'

WASHINGTON (Reuters) - Top White House economic adviser Lael Brainard plans to lay out on Monday the Biden administration's broad approach to safeguarding the U.S. auto sector from what it considers China's unfair trade actions.



"China is flooding global markets with a wave of auto exports at a time when they are experiencing overcapacity. We have seen this playbook before in the China shock of the early 2000s that harmed our manufacturing communities," Brainard will say at the Detroit Economic Club, according to prepared remarks.

"The administration is determined to avoid a second China shock, which means putting safeguards in place before a flood of underpriced Chinese autos undercuts the ability of the U.S. auto sector to compete on the global stage."

Source: Investing.com