AS THE US VICE PRESIDENT PLANNED A TRIP TO SEOUL, HOPES ARE HIGH FOR HIGH-LEVEL IRA NEGOTIATIONS.

 

Following reports of a potential visit to the nation by US Vice President Kamala Harris, anticipation is rising here for high-level negotiations on the US Inflation Reduction Act, which Korean electric vehicle manufacturers claim would harm their industry.

According to local government officials, after traveling to Japan to attend the state burial of murdered former Japanese Prime Minister Shinzo Abe on September 27, Harris is apparently planning a trip to Seoul to meet with Korean authorities.

Readmore.: https://industryglobalnews24.com/as-the-us-vice-president-planned-a-trip-to-seoul-hopes-are-high-for-highlevel-ira-negotiations

After Yoon Suk-yeol became president of South Korea in May, if her trip to Seoul is scheduled, it will be her first. Also anticipated is a trip to other Asian nations by the US vice president.

As a member of the American team sent to Korea to observe Yoon's inauguration, Harris' spouse, US second gentleman Douglas Emhoff, visited Korea earlier this year.

The Korean government is anticipated to voice its objections to the US IRA, which was passed into law on August 16, during Harris' visit. The new bill will eliminate tax benefits provided to Korean electric vehicles sold in the US upon adoption and cover health care, taxation, and environment actions.

Only EVs made in North America are eligible for the $7,500 maximum tax credits offered by the US government under the IRA. Because they produce their premium electric models there, Korean automakers like Hyundai Motor and Kia will see a decrease in their price competitiveness as a result of the IRA.

The South Korean government has expressed the industry's anxieties amid growing anxiety and called for a conduit to be established to the US so they may talk about ways to lessen the bad effects the IRA has on Korean automakers.

In addition to considering taking the matter to the World Trade Organization for a potential infringement of the "most favored nation" concept, Seoul feels that the new US law violates the US-Korea free trade agreement.

Read More

Want to Publish Fresh and Unique Content Visit: https://industryglobalnews24.com/publish-with-us

Subscribe for Latest News 

Contact us.: Industry Global News 24

Industry Global New 24 LLC,

25110 Sundance park lane,

Katy TX 77494

Comments

Post a Comment

Popular posts from this blog

TEN ARE DETAINED IN SINGAPORE FOR SELLING ILLEGAL BUNKER FUEL

Image
  Ten persons have been detained by Singaporean police on suspicion of selling bunker fuel illegally. The arrests were made on August 4 during a joint operation with the Singapore Maritime and Port Authority by Police Coast Guard officers. Six of the crew members worked on a tugboat flying the flag of Singapore, and the other six worked on a tug with a foreign flag. According to preliminary investigations, the Singapore tug crew members sold Marine Gas Oil to the foreign-registered tug without the knowledge of their employer. As proof, the tugs and about $6,000 (SGD 8,000) in cash were taken. PUBLISH WITH US Your Content:  https://bit.ly/3pOkePK   The Singapore-flagged tug's crew was accused of charges that could result in a maximum sentence of 15 years in jail and a fine. The potential prison sentence for the other crew members is five years. The greatest bunkering hub in the world's largest bunkering hub, Singapore has demonstrated it will not hesitate to discipline or even p
Read more

ACTING PM UNVEILED A CRUCIAL NEW TOOL FOR DEFENCE RESEARCHERS

Image
  It's time for a new piece of cutting-edge technology to reach our shores after autonomous vehicles, robot dogs from Snowy Hydro, and now. A new supercomputer programme that is up to a million times quicker than a regular computer has been officially inaugurated by the acting prime minister and minister of defence Richard Marles. Defence experts will be able to analyse massive data sets and carry out complex calculations quickly thanks to the cutting-edge technology, which is the first of its type in Australia. This will help them handle some of the most challenging scientific and technical issues. The new device is expected to help us advance important AUKUS goals like nuclear-powered submarines, quantum technologies, and artificial intelligence by aiding in the design, development, and analysis of contemporary military systems and national security systems. PUBLISH WITH US Your Content:   https://bit.ly/3pOkePK The useful new tool, according to Mr Marles, will be essential for o
Read more

US MOBILE LAB TESTS COVID-19

Image
  Today, the United States Department of Health and Human Services handed over a mobile biosafety laboratory that had been donated by that institution to the Sindh Department of Health. The Sindh Department of Health in Pakistan was the recipient of a mobile biosafety laboratory that was presented by the United States government today. PUBLISH WITH US Your Content:  https://bit.ly/3pOkePK   This was done to improve the department's ability to diagnose COVID-19 and other communicable diseases, particularly in Pakistan's more remote areas, where there is only a limited capacity to monitor and test for potential outbreaks of infectious disease. This was done in order to improve the department's ability to diagnose COVID-19 and other communicable diseases. The precision of diagnoses will noticeably increase as a direct result of the use of this cutting-edge laboratory. In addition to this, the amount of time required to complete tests will be cut down, and the security of the m
Read more