Source: Peterson Institute for International Economics

Articles from this source (2)

How the United States solved South Korea’s problems with electric vehicle subsidies under the Inflation Reduction Act

  2023-07-26 in Peterson Institute for International Economics

South Korea felt “betrayed” when President Joseph R. Biden Jr. signed his administration’s flagship climate legislation, the Inflation Reduction Act (IRA) of 2022, into law. This paper first shows how the Biden administration addressed Korea’s concerns about the law’s effect on its sales of electric vehicles (EVs) in the United States. Thanks in part to the Treasury Department’s regulations written to implement the law, Korean exports of EVs to the United States grew even after the IRA went into force.

  Tagged under: Electric Cars | EVs | Legislation

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Industrial policy for electric vehicle supply chains and the US-EU fight over the Inflation Reduction Act

  2023-05-02 in Peterson Institute for International Economics

The Inflation Reduction Act (IRA) of 2022 provoked a transatlantic trade spat. After the law was passed, the Biden administration addressed some of the concerns raised by the European Union by writing controversial rules to implement the legislation. These regulations are expected to have complex effects that, in some instances, may offset the intended impact of other provisions in the original legislation.

  Tagged under: Legislation

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