2024-07-19 10:11:21
China announced that it had initiated proceedings before the World Trade Organization (WTO) to settle a dispute with USA for subsidies to the US industry electric vehicles.
The world’s second largest economy had brought the dispute before the OMC in March but, due to the failure of negotiations with Washington, it asked the organization to “create a group of experts” on the subject, the Ministry of Foreign Affairs announced. China Trade it’s a statement.
In 2022 the US announced a massive aid program, the “Inflation Reduction Act” (IRA), to support companies in the energy transition sector and electric vehicles manufactured on American soil.
Under the direction of Joe Biden, Washington was trying to respond to Beijing’s subsidies to its own industry and launch its green strategy.
This US law “establishes as a precondition for receiving subsidies that products come from specific regions, such as USAand excludes products from China”, lamented the Chinese Ministry of Commerce.
“No matter how you try to package or embellish this law, it cannot change the discriminatory, protectionist and anti-independence nature of the law. WTO on subsidies”.
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2024-07-19 10:11:21