Senator Elissa Slotkin (D-Mich.) has raised concerns regarding a potential meeting between BYD Co. Ltd. (OTC: BYDDF) CEO Wang Chuanfu and President Donald Trump next week. Slotkin warned that if Wang joins Chinese President Xi Jinping’s business delegation, it could signal discussions about allowing Chinese automakers greater access to the U.S. market, a move she described as a "terrible outcome" for Michigan.
Slotkin emphasized that Chinese automakers, which she characterized as being "propped up by the Chinese government," would "undercut our manufacturers and suppliers, wreak havoc on our industry, and take our jobs" if allowed entry. She specifically noted the threat to the 1.2 million jobs tied to Michigan’s auto industry.
The warning comes after reports that Chinese officials are considering Wang for Xi’s business delegation ahead of the leaders’ summit in Washington on September 24. Slotkin advised the public to "watch what the President does, not what he says" regarding the potential meeting.
Trump previously stated he would be open to Chinese automakers building cars in the U.S. with American workers, while opposing vehicles shipped from Mexico. The U.S. currently maintains a 100% tariff on Chinese electric vehicles, effectively shutting them out of the market. Additionally, the Pentagon added BYD to its "1260H list" in June, identifying companies with ties to China’s military, though BYD has denied these allegations.
