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China Files WTO Complaint Over US Electric-Vehicle Subsidies

From bnnbloomberg.ca

China is taking its dispute with the US over electric-vehicle subsidies to the World Trade Organization, 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, the Chinese Ministry of Commerce said in a statement Tuesday announcing a lawsuit filing at the WTO. The EV sector has increasingly been caught up in tensions over trade and geopolitics as the world transitions away from the internal combustion engine. The European Union is likely to impose additional ... (full story)

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  • Category: Fundamental Analysis