China has initiated a dispute settlement process against the United States at the World Trade Organization (WTO) to protect its interests in the electric vehicle sector, China’s Permanent Mission to the WTO said on Tuesday.
China has said it is challenging “discriminatory subsidies” under the U.S. Inflation Reduction Act that it says have resulted in products from China and other countries being excluded from the WTO.
The law provides billions of dollars in tax credits to help consumers purchase electric vehicles and businesses produce renewable energy.
“Under the guise of responding to climate change, reducing carbon emissions and protecting the environment, (these subsidies) are, in reality, conditioned on the purchase and use of products originating in the United States or imported from certain regions” , the Chinese mission said. .
A WTO official confirmed that a request had been received from China for consultations on the issue, without providing details.
In Beijing, a spokesperson for China’s Ministry of Commerce said Washington was urged to “promptly correct discriminatory industrial policies and maintain the stability of global industrial and supply chains for new energy vehicles.”
There was no immediate response from the Office of the United States Trade Representative in Washington to a request for comment.
Source: Terra
Ashley is a professional author and journalist, working at 247 News Update. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. She brings a unique perspective and in-depth analysis to her work.
