The U.S. Senate Commerce Committee approved legislation on Wednesday to toughen a government ban on Chinese automakers entering the American market that could bar German automaker Mercedes-Benz from selling vehicles in the United States.
Senator Ted Cruz, the committee chair and a Texas Republican, said the bill's provision that would ban companies with more than 15% ownership by Chinese entities would bar Mercedes-Benz from selling vehicles in the United States because of its nearly 20% passive Chinese investment. He said the bill required changes before it could become law. Senator Bernie Moreno, an Ohio Republican, said Mercedes-Benz would have until 2030 to comply and could get waivers if needed from the ownership requirement if necessary.
