Industry chief to visit US for talks on EV tax breaks, chip bills and other news

Published by
Peter Kavinsky

South Korean Industry Minister Lee Chang Yang arrives at Incheon International Airport, west of Seoul, to travel to the United States on Tuesday to discuss the US Inflation Reduction Act and other pending bilateral issues with US officials. (Yonhap)

South Korean Industry Minister Lee Chang-yang left for Washington on Tuesday to talk with US officials about ways to minimize the impact on South Korea of ​​new US tax credit bills for electric vehicles and semiconductor investment, his office said in a statement.

The Inflation Reduction Act, signed into law by U.S. President Joe Biden in August, provides tax breaks of up to $7,500 to buyers of North American-only EVs, raising fears that South Korean automakers will lose ground in the U.S. market as they produce EVs at a low cost. . domestic plants for export to the USA

During a two-day visit Tuesday, Lee plans to meet with U.S. Commerce Secretary Gina Raimondo and other government and congressional officials to express South Korean government and industry concerns about discriminatory regulations and call for practical steps. at the Ministry of Commerce, Industry and Energy.

South Korea has made every effort to find measures to alleviate concerns. Commerce Secretary Ahn Duk Geun visited the US earlier this month for meetings with US Trade Representative Katherine Tai and other senior US officials following a South Korean government delegation to the US on the issue.

The two countries agreed to start high-level talks, and a directors-level meeting took place last week.

Seoul has attempted to add its requirement to the relevant guidelines as officials say it appears impossible to amend the law before the US midterm elections in November.

Lee will also consult on the potential impact of the Washington Chips and Science Act and Biden’s executive order to support the biosectors of South Korean companies.

The Chip Bill provides tax breaks for corporate investment in U.S. semiconductor manufacturing, but “limiters” in the legislation prevent recipients of tax breaks and other benefits from making new chip investments in China for 10 years.

Biden’s National Biotechnology and Biomanufacturing Initiative is designed to ensure that all biological products invented in the US are made at home to create jobs and strengthen supply chains.

“The minister will emphasize that closer consultations are needed between the two countries on such key industry issues to strengthen cooperation in supply chains, as well as to expand bilateral trade and investment,” the ministry said in a statement.

Li plans to visit New York and Canada after the two-day visit, the ministry said. (Yonhap)

Today Latest News Update

I have tried to give all kinds of news to all of you. latest news today 2022 through this website and you will love all this news very much because all the news that we always report in this news is always there. This is a hot topic, and whatever the latest news

we have always tried to contact you so that you continue to receive Electricity News, Graduation News, Donation News, Bitcoin News, Trade News, Real Estate News, Gaming News, Breaking News, Digital Marketing, Telecommunications News, Beauty News, Banking News, Travel News, Health News, Cryptocurrency news, claims news latest news and you will always get news information through us for free and also tell people. Specify that any information relating to other types of news will be

News live today

All these news that I made and shared for you people, you will like it very much, and in them we continue to offer topics for you people, like every time, so that you continue to receive news information, such as popular topics, and you. Our goal is to be able to receive

all kinds of news without passing through us, so that we can bring you the latest and greatest news for free, so that you can move on, getting informed about this news with you. In the future, we will continue

give information about more world news update today Types of breaking news through the posts on our website so that you always get ahead in this news and whatever information is there, it will definitely be passed on to you people.

World news today

All this news that I brought you or will be the most different and best news that you people will not receive anywhere, along with information Breaking News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News out of this, available to all of you, so that you are always in touch with the news, be ahead in this matter and continue to receive today’s news all types of news for free until today so you can get news while getting it. Always take two steps forward

Credit goes to a news site – This is the original content owner’s news website. This is not my content so if you want to read the original content you can follow the links below.

Get original links here🡽

(function() {
var _fbq = window._fbq || (window._fbq = []);
if (!_fbq.loaded) {
var fbds = document.createElement(‘script’);
fbds.async = true;
fbds.src=”https://connect.facebook.net/en_US/fbds.js”;
var s = document.getElementsByTagName(‘script’)[0];
s.parentNode.insertBefore(fbds, s);
_fbq.loaded = true;
}
_fbq.push([‘addPixelId’, ‘1440573646257323’]);
})();
window._fbq = window._fbq || [];
window._fbq.push([‘track’, ‘PixelInitialized’, {}]);

Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

Recent Posts

  • News

Nearly a record number of Americans are paying their credit card bills in full, says Ted Rossman of Bankrate & More News.

ShareShare article via FacebookShare article via TwitterShare article via LinkedInShare article via email Exchange Ted…

4 days ago
  • News

Crimeans record the activity of enemy aircraft in different parts of the peninsula

Residents of the temporarily occupied Crimea record the activity of enemy aircraft in the various…

4 days ago
  • News

10 best movies and series in screenlife format :: News

Photo: TNT station September 26 at 20:00 on TNT begins a new comedy with the…

4 days ago
  • News

“Discounts for a power of attorney”: mobilized people were provided with benefits for notary services

Benefits for mobilized Russians for notarial services were provided by the Federal Chamber of NotariesA…

4 days ago
  • News

Feminist associations ask to amend trans law and protect women

Madrid (EFE). Leading feminist organizations have drafted about twenty "amendments" to the transgender bill, which…

4 days ago
  • News

BEŞİKTAŞ TRANSFER NEWS – Young wing to Black Eagle! Target Jesurun Rak-Sakyi

Transfer work in Beşiktaş started early. In the black and white team, coach Valerien Ismael…

4 days ago