US House takes new step with Chinese electric car tax; Washington tightens export controls on Beijing goods

On September 12, the US House of Representatives narrowly voted to pass a bill that would increase restrictions on Chinese components in vehicles eligible for US electric vehicle tax credits.

The US House of Representatives is looking to tighten regulations on electric vehicles originating from China. (Source: e-ir.info)

The bill, passed 217-192, would tighten the definition of Chinese components that would make cars ineligible for US electric vehicle tax credits.

The coalition of major automakers, including General Motors, Toyota, Volkswagen and other automakers, said the bill would result in fewer vehicles eligible for tax incentives and would mean tough emissions rules and electric vehicle targets should be scrapped.

However, this bill has not yet been passed by the US Senate.

Washington has recently launched a new series of efforts to further strengthen export controls against Beijing in the emerging technology sector.

Last week, the US Department of Commerce’s Bureau of Industry and Security (BIS) announced tighter export controls on critical technologies as China makes headway in the global chip industry.

The new rules cover quantum computers and related components; advanced chip manufacturing tools; certain components and software related to metals and metal alloys, and high-bandwidth chips — a key component used in artificial intelligence (AI) applications.

Source: https://baoquocte.vn/ha-vien-my-co-buoc-tien-moi-voi-thue-xe-dien-trung-quoc-washington-manh-tay-kiem-soat-xuat-khau-hang-hoa-bac-kinh-286082.html