Amid trade rift, China to allow full foreign auto ownership
BEIJING (AP) — Facing the risk of a trade fight with the United States, China announced plans Tuesday to allow full foreign ownership of automakers in five years.
The change would scrap rules that require global automakers to work through state-owned partners — an arrangement that forces those foreign companies to share technology with potential competitors in China. It was unclear whether Beijing's action might mollify U.S. President Donald Trump, who has threatened to slap tariffs on $150 billion of Chinese goods in response to complaints that Beijing pressures foreign companies to hand over technology.