Cartoon by Ma Hongliang
The U.S. government recently enacted the provisions of the Inflation Reduction Act, barring electric cars from qualifying for full tax breaks if battery components were manufactured or assembled by countries like China.
This is how the U.S. politicizes economic issues and deliberately sets up trade barriers in the battery supply chain, in an attempt to suppress China's new energy industry chain. Chinese firms account for more than 50 percent of the global EV battery market and satisfy as much as 90 percent of demand for some battery materials, according to BloombergNEF, Bloomberg's primary research service.
This has severely disrupted global industrial and supply chains and heightened the risk of a fragmented global economy. Competition should be fair and rational. The U.S. should earnestly fulfill its WTO obligations and uphold the authority and effectiveness of multilateral trading regimes.
Related articles:
Related suggestion:
Zelensky 'assassination plot foiled' as Ukraine detains two of its own counterEquestrian Beijing Masters to be held in OctoberREVEALED: New PROOF the antiLiverpool get back on track with 4Alabama Senate committee delays vote on ethics legislationParis 2024 torch relay cauldron design unveiledMinisters roll out a £64 million plan to help longWNBA to begin fullJewish student is ordered to leave Oxford encampment after refusing to sign up to radical proDortmund's Reus hopes to sign off in style
2.919s , 6500.6171875 kb
Copyright © 2024 Powered by U.S. Inflation Reduction Act disrupts global industrial, supply chains ,Culture Compass news portal