Categories: Stocks / ETFs

US lawmakers call to add China’s CATL, Gotion to import ban list, WSJ reports By Reuters


(Reuters) -Chinese battery companies CATL and Gotion High Tech should be added immediately to a U.S. import ban list, a group of Republican lawmakers said, alleging their supply chains use forced labour, the Wall Street Journal reported.

The lawmakers called for CATL and Gotion, which have ties to Ford (NYSE:) and Volkswagen (ETR:), respectively, to be added to what is known as the entity list under the Uyghur Forced Labor Prevention Act, the report said on Thursday.

The entity list restricts the import of goods tied to what the U.S. government has characterised as an ongoing genocide of minorities in China’s Xinjiang region. Beijing denies any abuses.

Any allegation that Gotion “uses or is related to forced labor is baseless and absolutely false”, the company said in an emailed statement to Reuters, adding that the selection of partners is based on “strict review mechanisms and evaluation criteria”.

Volkswagen Group China has no evidence of human rights violations in connection with its business activities in China, a company spokesperson told Reuters in an emailed statement on Friday.

Volkswagen is also investigating these allegations immediately, “as we have done it in the past”, the spokesperson added.

Volkswagen China Investment Co holds 26% of shares in Gotion, and the latter is not nominated for any U.S. projects or import business into the country, the Volkswagen spokesperson said.

CATL said in a statement that the allegations against it were “groundless and completely false”, and that it was in compliance with applicable laws and regulations.

Business relations with some suppliers which were cited, it said, “ceased long ago”.

Ford did not immediately respond to a Reuters request for comment.



Source link

admin2

Share
Published by
admin2

Recent Posts

Electricity as the New Strategic Asset

Key Takeaways: U.S. power demand is reaccelerating. AI data centers, reshoring, and electrification are ending…

2 hours ago

Trump’s war loop: Escalate, retreat, repeat

Stuck in a quagmire of a war, Trump chafes at negative coverage while Iran digs…

3 hours ago

Ontario court dismisses appeal to block release of Doug Ford’s phone records

The Ontario Appeal Court has dismissed the government’s attempt to cancel an order telling civil…

3 hours ago

Ethereum Foundation Will Sell Less ETH As It Narrows Mission

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Vitalik Buterin…

3 hours ago

May 30 – Westend Seniors Activity Centre

Descrease article font size Increase article font size Alberta’s biggest Seniors Week celebration returns June…

6 hours ago

How the VictoryShares Free Cash Flow ETF Is Outperforming the Market in 2026

The VictoryShares Free Cash Flow ETF (VFLO) has outpaced the broader U.S. equity market, year-to-date…

7 hours ago