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US stocks like Flex and American Express soar to record highs as BlackRock favors US markets over Europe in a bullish risk-on environment.

How Republican E.V. Cuts Could Put U.S. Carmakers Behind China

The New York TimesWednesday, July 2, 2025 at 9:02:06 AM
How Republican E.V. Cuts Could Put U.S. Carmakers Behind China
Republicans in Congress are pushing to slash funding for electric vehicle (EV) programs, and experts warn this could seriously hurt U.S. automakers' ability to compete with China. China's already surging ahead in EV production, and without strong federal support, American companies might fall even further behind in the global race for clean car dominance.
Editor’s Note: This isn’t just about politics—it’s about jobs, innovation, and whether the U.S. stays relevant in the future of cars. China’s betting big on EVs, and if the U.S. pulls back now, it could mean losing ground in a critical industry. For drivers, workers, and even national security (think supply chains), this fight over funding has real stakes.
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