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CN Urges WTO to Set up Expert Group on US Subsidies for NEVs
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In order to protect the rights and interests of China's new energy vehicle (NEV) industry, China took the U.S. Inflation Reduction Act (IRA) regarding subsidies for NEVs to the World Trade Organization (WTO) on 26 March for dispute resolution, said a spokesman for the Ministry of Commerce of the People's Republic of China (MOFCOM). As the U.S. failed to reach a solution through negotiations with China, China launched today (15th) a request at the WTO to set up an expert group. The spokesman pointed out that the U.S. IRA uses products from the U.S. and other specific regions as the premise for subsidies, excludes products from China and other WTO members, so as to artificially create trade barriers, and shore up the cost of energy and green transformation. The spokesman said no matter how it is packaged and embellished, the nature of the subsidies in question, which are discriminatory, protective, and in breach of WTO rules, is factual. China is determined to push forward the litigation process so as to take practical actions to safeguard the authority and effectiveness of the multilateral trading system centered on the WTO, and to safeguard the joint efforts of the international community in addressing climate change. The spokesman said China recognizes that WTO members implement industrial subsidies in a manner consistent with WTO rules to support green energy transformation and promote economic and social development. The U.S. was once again urged to comply with WTO rules and stop abusing its industrial policy to undermine international cooperation on climate change. AAStocks Financial News |
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