China to challenge Biden’s electric vehicle plans at the WTO

News Snapshot:

BEIJING (AP) — China filed a World Trade Organization complaint against the U.S. on Tuesday over what it says are discriminatory requirements for electric vehicles subsidies. Starting this year, U.S. car buyers are not eligible for tax credits of $3,750 to $7,500 if critical minerals or other battery components were made by Chinese, Russian, North Korean or Iranian companies. The credits are part of U.S. President Joe Biden’s signature climate legislation, named the 2022 Inflation Reduction Act. The Chinese Commerce Ministry said in a statement posted online that the U.S. formulated discriminatory subsidy policies for new energy vehicles in the...