Rep. Ro Khanna (D-CA) cautioned against Chinese investment in the U.S. on Monday ahead of a key meeting between President Donald Trump and Chinese President Xi Jinping.
‘Disaster’ For American Manufacturing
In a post on the social media platform X, Khanna raised concerns over the meeting, where Trump and Xi could discuss a potential $1 trillion investment from Chinese enterprises into the U.S., according to a post he quoted by news presenter Laura Ingraham.
“I went on Fox News to urge Trump not to allow China to set up subsidized factories for cars, glass, and steel in the US,” Khanna said.
He then shared that following his appeals, he was “attacked” by Trump on social media for “complaining” about Chinese steel investments. “This would be a disaster for American workers,” Khanna said in the post.
Lawmakers Urge Trump To Block Chinese EVs
Ahead of the meeting, industry leaders and lawmakers have reportedly expressed concern about Chinese EVs entering the U.S. market after Trump had, in a public appearance in January, hinted that he could allow Chinese automakers to set up shop in the U.S. if they manufactured locally.
Privacy infringements and the detrimental effects on U.S. businesses are among the top concerns expressed by stakeholders regarding allowing Chinese tech or investment into the American market.
CEOs Invited To China Meet
The Trump administration has invited several tech leaders and CEOs to the summit in China, including Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk, Boeing Co.‘s (NYSE:BA) Kelly Ortberg, Apple Inc.‘s (NASDAQ:AAPL) CEO Tim Cook and more. However, NVIDIA Corp. (NASDAQ:NVDA) CEO Jensen Huang was not invited to accompany Trump.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo courtesy: Shutterstock
Login to comment