Japan expresses 'serious concerns' about US electric-vehicle tax credit policy

( November 4, 2022, 14:00 GMT | Official Statement) -- MLex Summary: The Japanese government said that proposed requirements for US electric-car tax credits under the Inflation Reduction Act aren’t consistent with the Japan-US’s policy to work with allies to build resilient supply chains, and that they would “preclude Japanese businesses.” After Japanese automakers and batteries makers made significant investments in the US over the past several decades, the proposed rules would provide “discriminatory incentives,” which may make Japanese companies hesitate to make further investments. Expressing “serious concerns" that vehicles imported from outside North America aren't eligible for tax credits, the government asked the US to expand the beneficial tax treatment to electric cars produced by its allies, such as Japan, in its comments to the Department of Treasury and the Internal Revenue Service. A statement is attached....