A Bill Taking Aim At Chinese Cars In America Just Advanced In The Senate. It Could Hit Mercedes Too

A bill that would ban automakers with more than 15% stake by Chinese entities has progressed in the Senate.

One automaker caught up in the crossfire is Mercedes-Benz, which has a nearly 20% stake held by Chinese investors.

U.S. lawmakers say General Motors and the UAW are pushing for the low ownership threshold.

Bipartisan legislation that would bar automakers with more than 15% ownership by Chinese entities from selling cars in the U.S. made it out of the U.S. ‌Senate Commerce Committee on Wednesday.

The bill, which proposes limiting the overall ownership stake and tech supplied by covered entities (such as China), advanced the committee on Wednesday, moving it closer to being signed into law. If it passes as written, which is not guaranteed, there could be an unexpected luxury brand caught up in the crossfire.