US Government To Look At Why Inflation Reduction Act Discriminates Again Korean Brands
The United States will look into how the Inflation Reduction Act will impact South Korean car manufacturers by making their EVs no longer eligible for federal tax credits.
South Korea’s national security advisor Kim Sung-han confirmed the move during recent talks with U.S. officials in Honolulu, Hawaii, including national security advisor Jake Sullivan.
“(Sullivan) said (the US) will take a detailed look at how the EV subsidy issue will pan out going forward, and what impact it will have,” Kim Sung-han told the Yonhap news agency. “He said the IRA is likely to bring more pluses than minuses to Korea, but he would take a closer look at how the electric vehicle subsidy issue will develop going forward and what impact it will have.”