Tax Chats How the Treasury Solved Korea's IRA Electric Vehicle Problem: A chat with Chad Bown By Chad Bown The Inflation Reduction Act extended the provision of tax incentives for electric vehicles, but, added stipulations that these EVs be produced in North America. Manufacturers outside of North America, including Korean auto manufacturers, had a problem--would they miss out on these subsidies that their customers had previously been getting? Trade economist Chad Bown tells the story about how the US Treasury, by regulation, appears to have solved Korea's problem by regulation. After completing this course, participants will be able to: - Explain the key provisions of the Inflation Reduction Act related to electric vehicle tax credits - Compare the US approach to promoting domestic manufacturing with similar policies in other countries - Examine enforcement mechanisms within the WTO and their effectiveness in maintaining fair trade practices - Explore the concept of setting multiple policy objectives and the complexity of achieving them simultaneously
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