Cartoon by Ma Hongliang
The U.S. government recently enacted the provisions of the Inflation Reduction Act, barring electric cars from qualifying for full tax breaks if battery components were manufactured or assembled by countries like China.
This is how the U.S. politicizes economic issues and deliberately sets up trade barriers in the battery supply chain, in an attempt to suppress China's new energy industry chain. Chinese firms account for more than 50 percent of the global EV battery market and satisfy as much as 90 percent of demand for some battery materials, according to BloombergNEF, Bloomberg's primary research service.
This has severely disrupted global industrial and supply chains and heightened the risk of a fragmented global economy. Competition should be fair and rational. The U.S. should earnestly fulfill its WTO obligations and uphold the authority and effectiveness of multilateral trading regimes.
California congressman urges closer consultation with tribes on offshore wind
Senior Chinese diplomat meets delegation of Brazilian Workers' Party
Imposing travel restrictions for China arrivals scientifically unjustified: ACI EUROPE
China launches global consumption event series at heavyweight expo
Russian theater director and playwright go on trial over a play authorities say justifies terrorism
Comicomment: 'Summit for Democracy' not about democracy
Xi Says to Continuously Consolidate, Develop China
American democracy in terminal decline
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
G20 Summit to be held in Bali, Indonesia