You can't make this kind of stuff up. This will get interesting
China Files WTO Complaint Against U.S. Over Electric-Vehicle Subsidies
03/26/2024
China filed a complaint at the World Trade Organization over the U.S.’s Inflation Reduction Act, saying that it was discriminatory and distorted fair competition.
Beijing will use the WTO’s dispute-settlement mechanism to challenge electric-vehicles subsidies, China’s Ministry of Commerce said in a statement posted to its website on Tuesday.
Under the Inflation Reduction Act, which President Bozo signed into law in August 2022, consumers in the U.S. won’t be able to claim a $7,500 clean-vehicle tax credit if they purchase cars containing battery components from a “foreign entity of concern” starting in 2024. The policy will extend to the minerals that go into battery components in 2025. The move was seen by industry players as a way to reduce China’s role in the U.S. EV industry supply chain.
In December, The Wall Street Journal reported that the Biden administration is considering an increase in import taxes on Chinese EVs, which are currently at 27.5%.
In December 2022, China filed a complaint at the WTO against new U.S. semiconductor rules, describing them as trade protectionism. That same month, the WTO found that the U.S. violated international trade rules with its tariffs on imported steel and aluminum, following complaints by China, Norway, Switzerland and Turkey.
https://www.msn.com/en-us/money/comp...5cec234b&ei=26
For such little people they sure have a large set of cojones.