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Mon Sep 9, 2019, 06:50 PM

U.S. House panel to review DOJ automaker antitrust probe

Source: Reuters

BUSINESS NEWS SEPTEMBER 9, 2019 / 7:04 PM / UPDATED 28 MINUTES AGO

U.S. House panel to review DOJ automaker antitrust probe

David Shepardson
3 MIN READ

WASHINGTON (Reuters) - The U.S. House Judiciary Committee plans to hold hearings and seek documents into the Justice Department’s decision to open an antitrust investigation into four major automakers’ voluntary agreement with California to adopt compromise vehicle emissions requirements.

House Judiciary Chairman Jerrold Nadler and Representative David Cicilline, who chairs a subcommittee on antitrust issues, said in a joint statement late on Monday the probe of Ford Motor Co (F.N), Honda Motor Co (7267.T), BMW AG (BMWG.DE), and Volkswagen AG (VOWG_p.DE) “is only the latest in a profoundly troubling pattern of abuse of power that has flourished under the Trump presidency.”

The Justice Department declined to comment. The White House did not immediately comment. The automakers did not immediately comment.

The two House Democrats added “there is virtually no antitrust theory that the Justice Department can use to prove that this agreement will unreasonably restrain trade or otherwise violate the antitrust laws.”

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Read more: https://www.reuters.com/article/us-autos-emissions/u-s-house-panel-to-review-doj-automaker-antitrust-probe-idUSKCN1VU2I3

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