Biden says U.S. willing to hold talks with S.Korea on EV subsidy -Yonhap




  • In US
  • 2022-10-05 07:36:13Z
  • By Reuters
 

SEOUL (Reuters) - U.S. President Joe Biden has expressed willingness to hold talks with South Korea on a recent measure that denies subsidies to automakers which do not assemble electric vehicles (EVs) in North America, the Yonhap news agency said on Wednesday.

The assurance came in a letter from Biden to South Korean President Yoon Suk-yeol, it added.

The Inflation Reduction Act Biden signed into law in August requires EVs assembled in North America to qualify for tax credits in the United States, but excluded Hyundai Motor Co and its affiliate Kia Corp from EV subsidies, as they do not yet make the vehicles there.

In September, Yoon asked Biden for help to allay Seoul's concerns that the new U.S. rules would hurt South Korea's automakers.

(Reporting by Heekyong Yang; Editing by Christian Schmollinger and Clarence Fernandez)

COMMENTS

More Related News

Incoming House Intel Chair Punts on Hunter Biden Investigation
Incoming House Intel Chair Punts on Hunter Biden Investigation

The incoming chairman of the House Intelligence Committee on Sunday was noncommittal about the possibility of an investigation into President Joe Biden's son...

Biden administration critical of
Biden administration critical of 'zero Covid' amid Chinese protests
  • World
  • 2022-11-28 13:44:41Z

The Biden administration has so far held back on issuing a larger condemnation of President Xi Jinping amid the unrest.

Marijuana Pardons Affect Just a Sliver of Those Swept Up in the War on Drugs
Marijuana Pardons Affect Just a Sliver of Those Swept Up in the War on Drugs
  • US
  • 2022-11-28 12:55:04Z

WASHINGTON - Valerie Schultz's conviction for possession of a small amount of marijuana in 2010 was anything but simple. Schultz was arrested on federal land...

Supreme Court returns to immigration in test of Biden
Supreme Court returns to immigration in test of Biden's power to choose deportation targets

The latest immigration case at the high court is one of several challenging Biden's ability to make policy without clear authorization from Congress.

Time magazine rejects fabricated ranking of
Time magazine rejects fabricated ranking of 'leaders most likely to harm world'
  • World
  • 2022-11-28 08:31:26Z

Social media users in South Korea have repeatedly shared a false claim that Time magazine created a list of leaders most likely to harm the world, with...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US