The European Union expressed concern Thursday that a new U.S. tax credit plan aimed at encouraging Americans to buy electric vehicles would discriminate against European producers and break World Trade Organization rules.
Under the Inflation Reduction Act nearing final approval in the U.S. Congress, a tax credit of up to $7,500 could be granted to lower the cost of an electric vehicle. To qualify, the bill requires that electric vehicles should contain a battery built in North America with minerals mined or recycled on the continent.
