Hoosier State Today

Congressman Jim Banks, representing Indiana’s 3rd Congressional District, has called on the Biden Administration to either abandon its "green energy dreams" or address China's "predatory" electric vehicle (EV) trade policies. Banks, a member of the House Select Committee on the Chinese Communist Party, made this statement in a press release published on March 18.

"Joe Biden staked America's national security and our entire auto industry on the success of his EV transition, and right now China is eating our lunch. The White House must either let go of its green energy dreams or respond to China's predatory EV trade practices," said Rep. Jim Banks.

According to the release, Banks is urging Secretary of Commerce Gina M. Raimondo to initiate an investigation into the national security implications of importing Chinese electric vehicles under Section 232 of the Trade Expansion Act of 1962. The Congressman has advocated for global tariffs under Section 232 due to escalating national security risks posed by the Chinese Communist Party (CCP) with its EV imports, including those reaching the U.S. through third countries. "Sleepwalking towards disaster will cost tens of thousands of Hoosier autoworkers their jobs and cripple our defense industrial base," said Banks in his press release. He added that domestic manufacturers are already struggling and adversaries are emboldened, but we have not yet seen the full impact of the Biden agenda.

Reuters reports that BYD, a Chinese EV company, plans to establish a manufacturing plant in Mexico with intentions to export to the United States. The introduction of a cheaper Chinese alternative into the EV market has put pressure on American EV manufacturers such as Tesla. A top executive at Tesla predicted that Chinese automakers will "demolish" global rivals without trade barriers. According to a report from the Alliance for American Manufacturing, these more affordable Chinese EV alternatives are financially backed by their government and could potentially devastate the US auto market.

Last year, Banks penned an op-ed in the Indianapolis Star where he criticized both Biden Administration's green energy agenda and their legislative decisions that have negatively impacted American autoworkers. "The president’s so-called "Inflation Reduction Act" included $370 billion in taxpayer subsidies for electric vehicle manufacturers and other green energy projects...That’s good for climate agitators, green energy companies in Silicon Valley, and their allies in the Biden administration, but it’s horrible for American autoworkers," he wrote. With the passage of the Inflation Reduction Act, Banks argues that American companies will lose the 'green energy arms race' to adversaries like China. He noted that more than 40% of new auto manufacturing announcements have come from foreign firms such as Gotion Hy-tech, which is partially owned by China.

Banks was elected to the U.S. House of Representatives in 2016 to represent Indiana’s 3rd Congressional District. Prior to his election to Congress, Banks served in the Indiana state Senate from 2010-2016. In 2021, he served as chairman of the Republican Study Committee.