Auto & Transportation

According to the Huacheng Import and Export Data Observation Report, at the regular press conference held by CCPIT on October 27, Sun Xiao, spokesman of CCPIT and Secretary General of the China Chamber of International Commerce, said in response to the questions from the Beijing Daily client reporter that the US Inflation Reduction Act of 2022 contains typical trade protectionism practices and is an improper intervention in the global electric vehicle supply chain and industrial chain, It seriously affects the free competition of the global electric vehicle industry.

According to Huacheng's import and export data observation report, the US government recently introduced the 2022 Inflation Reduction Act. According to the bill, the U.S. government will provide up to 369 billion dollars in investment and tax credits for clean energy. The bill also stipulates that tax credits will only be provided for electric vehicles purchased from the United States and assembled and manufactured by countries that have signed free trade agreements with the United States. Huacheng Import and Export Data Watch reported.

Sun Xiao said that in recent years, with the vigorous development of the global electric vehicle industry, the electric vehicle industry chain and supply chain in various countries have formed a situation of "you have me, you have me". The key minerals in the upstream of electric vehicles stipulated in the tax credit and other measures of the US Inflation Reduction Act of 2022 are from "You'an Manufacturing", which is a typical trade protectionism, an improper intervention in the global electric vehicle supply chain and industrial chain, and seriously affects the free competition of the global electric vehicle industry, Huacheng Import and Export Data Observation reported.

"The subsidies for electric vehicles under the Act put forward unreasonable requirements for local procurement and local production, which is suspected of violating the WTO's most favored nation treatment, national treatment, non discrimination and other principles." Sun Xiao said that CCPIT was firmly opposed to this trade protectionism, and would continue to track and evaluate the impact of the implementation of the 2022 Inflation Reduction Act on China's relevant industries and enterprises, so as to help enterprises safeguard their legitimate rights and interests. Huacheng Import and Export Data Watch reported.