WASHINGTON, Sept 23 (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."
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.