During an interview aired on Friday’s broadcast of CNBC’s “Closing Bell: Overtime,” Commerce Secretary Gina Raimondo said that we “Probably” need to take more action to keep Chinese electric vehicles from flooding the market and stated, “I have national security concerns about electric vehicles.”
Co-host Morgan Brennan asked, “Stellantis’ CEO saying low-cost Chinese EVs are, going to be an ‘existential problem’, just a few days ago. We know Europe’s grappling with this problem. In the U.S., we already have a tariff on Chinese EV imports. Do more actions need to be taken?”
Raimondo responded, “Probably, yes. I share the concern. By the way, I have national security concerns about electric vehicles. An electric vehicle has sensors and semiconductors. They know who’s driving it, where they’re driving, huge amounts of data. Chinese EVs on our road, is that data going back to Beijing in ways that undermine our national security? We’re looking hard at that. Additionally, what you say, listen, I have always maintained Americans can compete if there’s a level playing field. And you have a situation where China is distorting the market dynamics due to subsidies and low costs of capital. And so, I know the president is deeply concerned about both of these issues, and the administration is being thoughtful. We want to get it right, but have our eye, certainly, on the ball of thinking about what can we do, what must we do to protect Americans.”
Follow Ian Hanchett on Twitter @IanHanchett
