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Market Chatter: Prohibitions on Foreign Tech Could Deter Chinese Carmakers from Entering US, Top Trade Official Says

-- U.S. curbs on foreign technology could keep Chinese car manufacturers out of the country for the next 12 to 18 months, Bloomberg reported Thursday, citing U.S. Trade Representative Jamieson Greer.

American prohibitions on foreign-made connected vehicle technology and software created by so-called foreign entities of concern are Chinese companies' biggest stumbling block, according to the report, citing Greer.

"It would probably be difficult for certain countries to establish new production here, given those sets of rules," Bloomberg quoted Greer as saying to reporters during a tour of an automobile production facility.

Domestic car manufacturers are closely watching the possible entry of Chinese carmakers to the U.S., after President Donald Trump said he was open to China-based manufacturers from setting up shop in America, provided they hire American workers, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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