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MOC: CN Lawsuit at WTO Proper Move as US Seriously Disrupts Global NEV Industry Chain, Supply Chain
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In response to a WTO lawsuit filed by China against the U.S. for the latter preventing electric vehicle (EV) manufacturers from sourcing battery materials from China, China's Ministry of Commerce (MOC) spokesman He Yadong said the U.S., in the name of addressing climate change and a low-carbon environment, introduced the Inflation Reduction Act and its implementation details. The U.S. aimed to formulate and introduce a discriminatory subsidy policy based on the premise that subsidies were granted on the basis of the use of products of the U.S. and other specific regions, which distorted fair competition and seriously disturbed the global industry chain and supply chain of new energy vehicles (NEVs), violating the relevant WTO rules, said the spokesman. This distorts fair competition, seriously disrupted the global NEV industry chain and supply chain, and violated relevant WTO rules. He Yadong said that China's prosecution at WTO against the U.S. is a proper move to firmly defend the rules-based multilateral trading system and steadfastly safeguard the stability of the global industry chain and supply chain of NEVs. AAStocks Financial News |
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