China says new US subsidy law for EVs suspected of violating WTO rules – shareandstocks.com

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China said the US Inflation Reduction Act is suspected of violating the WTO rules and will adopt measures to safeguard its legitimate rights when necessary, the commerce ministry spokesperson Shu Jueting said on Thursday.

China will follow and evaluate the implementation of the law, Shu added.

The new law, signed by US President Joe Biden last month, eliminates federal tax credits for electric vehicles (EVs) made outside North America.

Reuters



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