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US electric car manufacturer Tesla has announced plans to build a plant in Shanghai, its first outside the United States. Tesla is among the companies affected by the extra 25 percent of Beijing's tariffs in retaliation for President Trump's tariff increase. China has recently eased the foreign ownership restrictions imposed on automakers. The old rules forced them to join Chinese companies to make cars in China. Tesla's new plant will be the first of its kind to be owned entirely by foreigners.
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automobile
Economy
United States
China
Sustainable development
companies
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