China Asks WTO to Establish Expert Panel on US EV Subsidies Dispute

15/7/2024 19:02

        China has requested the World Trade Organization set up an expert panel to help settle a dispute over electric vehicles subsidies under the U.S. Inflation Reduction Act, the country's commerce ministry said on Monday.
        
        The world's No.2 economy opened the WTO dispute in late March after the Biden administration passed the IRA, a wide-ranging law that provides billions of dollars in tax credits to help consumers buy EVs and firms to produce renewable energy, as the White House looks to decarbonise the U.S. power sector.
        
        China has failed to reach a solution with the U.S. through consultations that would safeguard the rights and interests of its EV industry, the ministry said in its statement, and so is advancing its case at the WTO.
        
        The IRA "excludes products from WTO members such as China, artificially sets trade barriers, and pushes up the costs of green energy transition", China's commerce ministry said.