China Halts $690 Billion in U.S. Imports—U.S. Economy Takes a Hit! Electric Vehicles, Trade Wars
For years, automakers relied on a steady flow of semiconductors from overseas manufacturers, particularly in Asia. China, Taiwan, and South Korea have been at the center of global chip production, providing the components needed for everything from navigation systems to electric vehicle batteries. But in recent years, rising geopolitical tensions have thrown a wrench into that once-reliable system.
The US government has been tightening restrictions on China’s access to advanced chip technology, citing concerns over national security. Meanwhile, China has doubled down on its Made in China 2025 initiative, a strategic plan aimed at making the country self-sufficient in high-tech manufacturing. As both sides push forward with these policies, American automakers are feeling the pressure.
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