WASHINGTON — A new tax credit for U.S. buyers of qualifying electric vehicles made in North America has ignited the spectre of a trade war as a domestic imperative of the Biden administration and Democrats collides with the complex realities of globalization.
WASHINGTON — A new tax credit for U.S. buyers of qualifying electric vehicles made in North America has ignited the spectre of a trade war as a domestic imperative of the Biden administration and Democrats collides with the complex realities of globalization.
How the Biden administration handles the allegations brought by foreign governments and manufacturers will demonstrate whether the president's international trade position will mirror the Trump administration's go-it-alone approach, leaving the World Trade Organization's dispute resolution process in disarray.
"We are working overtime to localize our supply chains and ramp up production," said Chris Smith, chief government affairs officer at Ford in a statement last week.‘INCOMPATIBLE WITH THE WTO’ However, the potential for a World Trade Organization complaint highlights the void left in part by the Trump administration, which blew up the WTO's appeals body when it blocked the approval of new judges to serve on the dispute resolution panel. The panel is supposed to have seven judges. But their ranks have dwindled because the United States — under Presidents George W. Bush, Barack Obama and Trump — has blocked new appointments to protest the way the WTO does business.
He added,"This isn't even a close call, which means the U.S. doesn't plan to step up and fix the appeals process anytime soon. On a bipartisan basis, leaders have become disenchanted with the WTO because of its inability to put pressure on China."
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