China says U.S. EV subsidy rules suspected of violating WTO rules – Reuters

China says U.S. EV subsidy rules suspected of violating WTO rules – Reuters

An XPeng Inc. P7 performance electric car is seen outside the New York Stock Exchange (NYSE) ahead of the Chinese company’s IPO trading under the stock symbol “XPEV” in New York, U.S., August 27, 2020. REUTERS/Mike Segar/File Photo

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BEIJING, Sept 22 (Reuters) – China said the U.S. Inflation Reduction Act is suspected of violating the WTO rules and will adopt measures to safeguard its legitimate rights when necessary, the commerce ministry spokesperson Shu Jueting said on Thursday.

China will follow and evaluate the implementation of the law, Shu added.

The new law, signed by U.S. President Joe Biden last month, eliminates federal tax credits for electric vehicles (EVs) made outside North America.

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Reporting by Beijing Newsroom; editing by Jason Neely

Our Standards: The Thomson Reuters Trust Principles.

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