U.S. Inflation Reduction Act disrupts global industrial, supply chains
Time:2024-05-21 17:14:20 Source:styleViews(143)
Cartoon by Ma Hongliang
The U.S. government recently enacted the provisions of the Inflation Reduction Act, barring electric cars from qualifying for full tax breaks if battery components were manufactured or assembled by countries like China.
This is how the U.S. politicizes economic issues and deliberately sets up trade barriers in the battery supply chain, in an attempt to suppress China's new energy industry chain. Chinese firms account for more than 50 percent of the global EV battery market and satisfy as much as 90 percent of demand for some battery materials, according to BloombergNEF, Bloomberg's primary research service.
This has severely disrupted global industrial and supply chains and heightened the risk of a fragmented global economy. Competition should be fair and rational. The U.S. should earnestly fulfill its WTO obligations and uphold the authority and effectiveness of multilateral trading regimes.
Previous:Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
Next:Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
You may also like
- OpenAI pauses ChatGPT voice after Scarlett Johansson comparisons
- 20th Shambhala Tourism Festival kicks off in Gansu
- 20th Shambhala Tourism Festival kicks off in Gansu
- Xi'an to host Digital Silk Road Development Forum
- Yvette Fielding says her Most Haunted co
- Apple CEO highlights Chinese supplier's contribution to carbon emission reduction
- IDC: China's GenAI sector investment surges
- Coal production in China reach historic highs last year
- Devout Christian doctor, 68, who punched dementia