Mar 27, 2024 02:25 PM
ECONOMY
China Files WTO Complaint Over U.S. Electric-Vehicle Subsidies
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China’s complaint comes months after the U.S. finalized restrictions that reduced the number of electric cars eligible for as much as $7,500 purchase tax credits. Photo: Bloomberg
(Bloomberg) — China is taking its dispute with the U.S. over electric-vehicle (EV) subsidies to the World Trade Organization (WTO), challenging elements of President Joe Biden’s signature climate law passed in 2022.
The Inflation Reduction Act and associated rules are “discriminatory” and have “seriously distorted” the global EV supply chain, China’s Ministry of Commerce said in a statement Tuesday announcing a complaint it’s filed to the WTO.
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